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KUALA LUMPUR Customized Dodgers Jerseys , July 4 (Xinhua) -- Lotte Chemical Titan Holding, a Malaysian unit of South Korean conglomerate Lotte Group, on Tuesday set a lower share price for the upcoming initial public offering (IPO) in Malaysia, fixing the price at 6.50 ringgit (1.51 U.S. dollars).


The new offer price was much lower than its earlier price range of between 7.60 ringgit and 8 ringgit per share.


With Lotte already paring down its IPO size by 21.7 percent on Monday from 740.48 million shares to 580 million shares Cheap Dodgers Jerseys , it is expected that smaller gross proceeds will be raised, down from 5.92 billion ringgit to 3.77 billion ringgit.


The IPO of Lotte Chemical Titan, Malaysia's largest producer of olefins and polyolefins products, was earlier expected to be the largest in Malaysia since August 2012 and the largest in Southeast Asia since May 2013.


In a statement sent to the Malaysian stock exchange Fernando Valenzuela Dodgers Jersey , the company emphasized that "the change in proceeds is not expected to materially affect the company's ability to fund the development and construction of the integrated petrochemical facility."


Lim Sin Kiat, an analyst with Hong Leong Investment Bank Research, said in a report dated June 28 that the IPO should be fairly priced at 7.39 ringgit, due to its smaller size compared to its peer Petronas Chemical Sandy Koufax Dodgers Jersey , an integrated chemical producer under Malaysian state-owned oil and gas firm Petroliam Nasional (Petronas).


"We (also) believe petrochemical product margins for Lotte Chemical Titan appear to have peaked and the risk of margins reverting to lower levels is high at this level given the expectation of capacity expansion in regional and global market," he added.


The IPO, slated for the date of July 11, was the second time for Lotte to go public in Malaysia Maury Wills Dodgers Jersey , after it was taken private in 2011. (1 Malaysian ringgit = 0.2326 U.S. dollar)


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