Friday, November 26, 2010

#Update* Petronas Chemicals off early high

KUALA LUMPUR: Southeast Asia's largest initial public offer, Petronas Chemicals Group Bhd was off its early high of RM5.71 on Bursa Malaysia on Friday, Nov 26.

It opened at RM5.71, which was was 51 sen above its institutional offer price of RM5.20. There were 79.78 million shares transacted.

At 9.19am, it was trading at RM5.51, up 31 sen. There were 178.65 million shares done during the first 19 minutes of trade.

The FBM KLCI was up 3.02 points to 1,499.51. Turnover was 248.87 million shares valued at RM1.10 billion. There were 149 gainers, 113 losers and 125 stocks unchanged.

Petronas Chemicals IPO of RM41.6 billion is the largest in Asean based on the institutional price of RM5.20 per share.

Due to its significantly large market capitalisation, it will be included as a constituent of the 30-stock index next Monday, Nov 29 after its public listing.

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