PT PP Presisi, subsidiary of state investment and construction firm PT Pembangunan Perumahan Tbk (PTPP), acquired 51% stake in PT Lancarjaya Mandiri Abadi (LMA) for Rp331.5 billion value. This acquisition aims to boost PP Presisi’s capacity and competitiveness on the construction industry and engineering, procurement, construction (EPC) business in Indonesia. PP Presisi plans to launch the initial public offering (IPO) in third quarter (Q3) this year. The Company is national scale construction service company based on heavy equipment.
