South Korea’s OCI considering RM1.5b IPO in Malaysia – report
24 Jul 2024
South Korea-based energy and chemical company OCI Holdings Co is considering listing its Malaysian polysilicon unit in a RM1.5 billion initial public offering on the local stock echange, Bloomberg reported citing sources.
It said the deal could value OCI Malaysia up to RM6 billion and may happen in the second half of next year.
In April this year, it was reported that OCI plans to increase the manufacturing capacity of the polysilicon for solar panels and expand its product portfolios into the polycrystalline silicon for semiconductors in Malaysia.
It had committed to spend 850 billion won by 2027 to raise the capacity of polysilicon for solar panels of its wholly owned subsidiary OCIM Sdn. Bhd to 56,000 tonnes a year from the current 35,000 tonnes.
In April it also opened its regional office here consolidating the functions of OCI in Japan, China, the Philippines and Malaysia in terms of the setting of financial budgets, development of business plans and establishment of a new growth investment initiative.
Source: NST
