Indonesian retailer Rimo to raise $610.7m via rights issue to buy Hokindo

Indonesian retailer Rimo to raise $610.7m via rights issue to buy Hokindo

PT Rimo International Lestari Tbk [RIMO], a listed department store operator, is seeking to raise up to Rp 8.1 trillion ($610.7 million) through a pre-emptive rights issue, the proceeds of which will be used to buy out a property developer PT Hokindo Mediatama, hinting a possible backdoor listing of the property company.

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