Lippo Karawaci Releases 100% of Lippo Mall Puri's Shares

By Editorial Team 27/08/2019
Summary

PT Lippo Karawaci Tbk (LPKR) has officially released its ownership in Lippo Mall Puri. This property issuer sold the shopping center in West Jakarta to Lippo Mall Real Estate Investment Trust (LMIRT), which is its Singapore-based subsidiary.

LPKR President Director John Riyadi told Kontan that his company was releasing 100% ownership of Lippo Mall Puri and pocketing fresh funds of around Rp 3.7 trillion. However, LPKR does not have a definite plan related to the use of these funds. The release of share ownership is done to strengthen the company's balance sheet.

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