John Riady’s Stake on Meikarta Project

By Editorial Team 12/07/2019
Summary

PT Lippo Karawaci Tbk (LPKR) has successfully raised US$ 787 million or Rp 11 trillion from the rights issue. It is part of the bigger plans to raise a whopping US$ 1.01 billion of fund.

Lippo Group plans to allocate US$ 275 million for loan repayments. Another US$ 290 million will be used for liquidity buffer in order to settle debt obligations and pay REITs rent until 2020. However, it also allocates around US$ 25 million for working capital and general corporate purposes, US$ 200 million for Meikarta project development, and US$ 100 million for finishing up its main projects.

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