Lippo's unit seek HK listing

Lippo's unit seek HK listing

HONG KONG (Dow Jones): Across Asia Multimedia Ltd., which is 80 percent-owned by Indonesia-based Lippo Group, will raise up to HK$612 million from a floatation on Hong Kong's Growth Enterprise Market, an underwriting source told Dow Jones Newswires Monday.

The Hong Kong-based company will place 180 million shares between HK$3 to HK$3.40 each with institutional investors.

The company has a green shoe of 15 percent to issue an additional 27 million shares, in the event of exceptional demand. The issue size represents 3.55 percent of the company's enlarged share capital.

Book building kicks off June 28 and ends July 7. Dealing of shares will start July 13.

Its assets include a controlling stake in Jakarta-listed computer equipment retailer Multipolar Corp. (P.MUL)

It also has a controlling stake in cable operator Broadband Multimedia.