From the Star, dateline 2010-10-09:
PETALING JAYA: PETRONAS Chemicals Group Bhd is likely to list at a price earnings multiple of around 15 times earnings, similar to what analysts are expecting in the coming listing of Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), industry experts familiar with the exercise said.
The sources added that PETRONAS Chemicals would have a number of anchor investors, made up of both local and foreign institutions.
“As expected, the Employees Provident Fund will be wooed but so too will other funds, considering the size of the offering,” one banker said. Although no details have been revealed on the size of the offering, it has been reported that banking sources familiar with the company reckon it could be valued as much as US$2bil (RM6.2bil).
In a draft prospectus filed on Tuesday with the Securities Commission, PETRONAS said it had merged 22 chemicals companies to form the new group.
You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.
Wata - Malaysian Oil and Gas Engineer 