KUALA LUMPUR: Petronas Chemicals Bhd's initial public offering (IPO) has been covered three times at the high end of the RM4.50-RM5.20 indicative range, two sources said.
A fund manager involved in the bidding and a banker with direct knowledge of the deal told Reuters there had been significant interest in the domestic book building exercise.
"It's still early for price guidance, and I suspect we will have a better gauge by the middle of next week," the fund manager said.
The sources declined to be named ahead of the official pricing. Petronas Chemicals declined to provide specifics on the bookbuilding.
Petronas Chemicals, a unit of state oil firm Petroliam Nasional Bhd (Petronas) could raise as much as US$4.2 billion (RM13.02 billion) in its IPO, the largest in Southeast Asia, according to a term sheet obtained by Reuters last week. ' Reuters
A fund manager involved in the bidding and a banker with direct knowledge of the deal told Reuters there had been significant interest in the domestic book building exercise.
"It's still early for price guidance, and I suspect we will have a better gauge by the middle of next week," the fund manager said.
The sources declined to be named ahead of the official pricing. Petronas Chemicals declined to provide specifics on the bookbuilding.
Petronas Chemicals, a unit of state oil firm Petroliam Nasional Bhd (Petronas) could raise as much as US$4.2 billion (RM13.02 billion) in its IPO, the largest in Southeast Asia, according to a term sheet obtained by Reuters last week. ' Reuters
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