Lippo Cikarang listed<\/p>\n
JAKARTA (JP): Urban developing company PT Lippo Cikarang, of
\nthe widely diversified Lippo Group, made its capital debut
\nyesterday when listing its shares in the Jakarta Stock Exchange.<\/p>\n
The company's share price made a gain of Rp 275 to Rp 1,200
\nduring the initial listing in the morning before it closed at Rp
\n1,125 in the afternoon on a total volume of 85.03 million shares
\nin the regular market.<\/p>\n
The company offered 108.5 million shares, or 15.6 percent of
\nits total enlarged capital, to the public last month to raise Rp
\n100 billion.<\/p>\n
The company's executive said that 25 percent from the proceeds
\nof the share offering would be used to purchase new land, 35
\npercent to finance infrastructure facilities and the remaining 40
\npercent to repay its debts.<\/p>\n
Lippo Group's chief executive officer, James T Riady, said
\nthat Lippo Cikarang, which recorded a total net profit of Rp
\n32.32 billion in 1996, was committed to continuing its core
\nbusiness in urban development.<\/p>\n
"We will be consistent with out commitment to increase the
\nshareholders' value of the company," he said. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lippo-cikarang-listed-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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