Property developer Lippo Karawaci (LPKR) divested Lippo Mall Puri for Rp3.5 trillion value. Lippo Malls Indonesia Retail Trust (LMIRT) is set to purchase the said asset from PT Mandiri Cipta Gemilang, a subsidiary of LPKR. LMIRT has raised S$281 million (US$211.28 million) from offering 53.84% new shares, listed on Singapore Stock Exchange (SGX) on Jan. 22, 2021. LPKR holds 32% shares in Lippo Mall Puri, and LMIRT holds the rest. LPKR targets to book sales of Rp2.5 trillion this year and Rp3.5 trillion this year as property business is recovering.
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