China petrochemicals firm SunVic Chemical Holdings Ltd. plans to raise between S$39.5 million and S$47.3 million ($25.7-$30.8 million) in a Singapore initial public offering.

SunVic is offering 155 million new shares -- representing 25.7 percent of its enlarged share capital -- at an indicative price range of 25.5 to 30.5 Singapore cents. The IPO is divided into 147 million shares for institutional investors and 8 million shares for retail investors. 

SunVic makes petrochemical products, acrylic acid and acryl ate esters which are used in a wide range of industrial and consumer products.