Indonesia: Matahari to up stake in to 10%

Visual from the company website

Matahari, the operator of Hypermart, Smartclub, Foodmart, Boston and FMX, said it wants to acquire another 5 per cent of, raising its stake in the online e-commerce marketplace to 10 per cent from 5 per cent.

Director of Matahari Dani Konjongian said the company is currently studying various scheme options for the acquisition, and added that PT Global Ecommerce Indonesia (GEI), the parent company of, might release new shares for subscribtion as it had done in previous transactions.

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