Lippo sells first Matahari block since re-IPO

Chinese-Indonesian conglomerate raised $125m from secondary selldown of shares in Matahari Department Store, potentially creating an overhang for the remainder of its shares.

Danny Leung

September 06, 2016

Indonesian conglomerate Lippo Group offloaded a small slice of its stake in Matahari Department Store through a Rp1.64 billion ($125 million) accelerated bookbuild late on Monday, marking its first selldown since the retailer floated the bulk of its shares three years ago.

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