KUALA LUMPUR (July 12): Lotte Chemical Titan Holding Bhd’s share price climbed 1.57% in the last 15 minutes before closing today but its trading volume shrank substantially to below 10 million shares.

Lotte Chemical, which made its debut yesterday, closed at RM6.48, up 10 sen with only 5.8 million shares changing hands. At the closing price, the petrochemical group was valued at RM14.95 billion.

The stock opened at RM6.35, at a discount over the previous day’s closing of RM6.38. The stock hit an intraday high of RM6.48 while its intraday low was RM6.35.

In a Bursa Malaysia filing after market close, Maybank Investment Bank Bhd said it had bought 3.02 million shares in LCT to stabilise the latter's share price. It bought the shares at RM6.4144 per share for RM19.37 million.

Maybank has spent RM130.04 million on the stabilisation exercise in the last two trading days.

Lotte Chemical is labelled as the biggest initial public offer (IPO) on Bursa in the last five years. However, it made a weak debut yesterday to close below the IPO price of RM6.50.