Retailer Matahari Department Stores (LPPF) launched its buy back of shares program at Rp1.25 trillion value. It will buy back its shares at price of Rp13,330 per share. LPPF will hold an extraordinary general meeting (EGM) of the shareholders on Oct. 8, 2018, where it expects to gain approval from shareholders.
LPPF will further investments in logistics capabilities to reduce the operational costs of its core business and support the fast growing E-commerce business and increasingly profitable 3rd party services.
In the coming year, LPPF plans to increase its capital investment in PT Matahari Nusantara Logitik by approximately Rp500 billion. The fund will be use to purchase of a new multi-purpose distribution facility, with a size in excess of 50,000 m2.