Indonesian P2P lender Investree buys 10.9% stake in Bank Amar for $29m

Adrian Gunadi, CEO and Co-founder of Investree

Indonesian online peer-to-peer lending platform Investree has bought 1.5 billion shares of the publicly-listed lender PT Bank Amar Indonesia Tbk from Tolaram Group Inc. at a discount on June 7, according to a recent regulatory filing reviewed by DealStreetAsia.

Investree Singapore Pte Ltd, the holding company of the P2P lending platform, spent about 422 billion rupiah ($29 million) to acquire the shares — representing a 10.9% stake in the Indonesian bank — at 280 rupiah apiece. On the day of the deal, Bank Amar’s shares closed at 332 rupiah apiece on the Indonesia Stock Exchange (IDX).

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