Lippo Karawaci Gains After Owner Makes Early Payment for Rights

(Bloomberg) -- Lippo Karawaci shares gain 7.8%, most since Feb. 28, as the Riady family plans a $280m payment for the initial part of its support for a rights issue.

NOTE: Inti Anugerah Pratama, controlled by Riady family, owns 51.1% of Lippo Karawaci, the property co. said in stock exchange filing.

Development is “slightly credit positive” for Lippo Karawaci as it will “mitigate investors’ concern over the execution risk”, Trung Nguyen, senior credit analyst at Lucror Analytics, writes in March 14 note.

NOTE: Tycoon Riady Sees No ‘More Hiccups’ in $18b Project.

NOTE: Tycoon Riady’s Property Unit to Raise $1b to Cut Debt.

2019-03-14 04:51:45.248 GMT

By Harry Suhartono