CVC-controlled Matahari Department Store launches $1.36 billion follow-on

The deal is supported by 15 cornerstone investors, who will buy up to 36% of the base offering, and was fully covered on the first day, sources say.
<div style="text-align: left;"> One of Matahari’s 116 department stores in Indonesia (AFP) </div>
<div style="text-align: left;"> One of Matahari’s 116 department stores in Indonesia (AFP) </div>
March 12, 2013

The controlling shareholders of Matahari Department Store yesterday kicked off the bookbuilding for what could become the largest equity offering in Indonesia in almost five years.

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