State-owned energy firm Petronas (Kuala Lumpur) has filed a draft prospectus with the Malaysian Securities Commission (Kuala Lumpur) for an initial public offering (IPO) of the company's petrochemicals business at a yet-to-be-determined date. The listing of Petronas Chemicals is in response to a call by Malaysian prime minister Najib Razak to reduce state ownership in companies and boost stock market liquidity.
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