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Lippo Karawaci pockets US$ 1 billion in funding

12 March 2019 11:25 AM  Company: PT. Lippo Karawaci Tbk[LPKR]
Rp. 310  -2 (-0.64%)
Lippo Karawaci pockets US$ 1 billion in funding

JAKARTA - PT Lippo Karawaci Tbk (LPKR) announced that it has bagged US$ 1.01 billion from the company’s funding programme. From the amount, US$ 730 million was obtained from a rights issue underwritten by the Riady family, while US$ 280 million was obtained from the completion of asset divestment plan.

As reported by Kontan.co.id, George Raymond Zage III dan Chow Tai Fook Nominee Ltd have each signed an agreement to purchase LPKR shares through a rights issue with a commitment value of US$ 70 million.

The investment will be done through Tiga Investments Pte Ltd. The funding programme aimed to optimise LPKR’s balance through the reduction of debt ratio and the repayment of debt amounting to US$ 275 million. (MS)

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PT. Lippo Karawaci Tbk [LPKR]   Rp. 310   -2 (-0.64%)