Retail chain firm PT Matahari Putra Prima Tbk (MPPA), a unit of Lippo Group , has subscribed to share rights option to acquire for 5.09 per cent share of MatahariMall.com, an online e-commerce marketplace in Indonesia. While, PT Graha Layar Prima Tbk (BLTZ), the operator of movie theater chain CGV Blitz, plans to raise up to Rp850 billion ($62 million) via a preemptive rights issue.
Matahari takes 5% share of Mataharimall.com
Matahari, a multi-format modern retailer in Indonesia, which operates Hypermart, Smartclub, Foodmart, Boston and FMX subscribed 4.82 million additional shares Mataharimall.com shares at Rp12,065 a share on Jan. 29, said the company in an announcement.
Matahari views e-commerce as a significant opportunity to expand the business network of the company throughout Indonesia as a retail brand and believes that this transaction is made as a foundation for a strategic long-term relationship with MatahariMall.
The investment and partnership with MatahariMall is a new opportunity to foster O2O e-commerce components that should result in significant sales increases for MPPA in the future. .
Previously, sister company of Matahari, PT Matahari Department Store Tbk (LPPF), a retail company, increased its ownership in PT Global Ecommerce Indonesia (GEI), shareholder of PT Sinar Rekata Earth and PT Lenteng Transcontinental.
Both of the subsidiaries are the shareholder of PT Solutions E-commerce Global, operator of MatahariMall.com.
MatahariMall.com, officially launched its operations on Sept. 11, kick-starting a $500 million quest to conquer the nation’s burgeoning online retail scene. Hadi Wenas, the portal’s chief executive, said MatahariMall.com is an online super-marketplace, where everyone can buy everything and anyone can sell anything, including electronics, fashion.
Graha sell share through limited public offering mid of 2016
Unit of South Korea CGV Cinemas plan to sell part of its share by the middle of the year to finance its business operations and to pay off the company’s Rp250 billion debt, according to company announcement on the local stock exchange.
The remaining of the fund will be used to build new cinemas in several regions in Indonesia, such as Jakarta, Banten, West Java, East Java and North Sumatra province, the statement added.
Graha Layar Prima seeks to offer up to 110,000 Class-C shares with a nominal value of Rp100. Shareholders who do not exercise their right will see their shares diluted by up to 24.6 percent.The plan is pending the approval of shareholder in March and approval from the Financial Services Authority (OJK) in April.
First established in 2004, Jakarta-based Graha Layar Prima has 16 CGV Blitz movie theater spread across Jakarta, Bandung, Yogyakarta and Batam, according to the company’s official website.
Also Read :