Oct 19, 2010

Lippo Karawaci & US$100 mio bonds

Property developer controlled by Lippo Group PT Lippo Karawaci Tbk (LPKR) is aiming to issue US$100 million bonds, following its rights issue of Rp2.25 trillion.
"We will issue foreign denominated bonds. But, we haven't set when the right time," said Danang Kemayan Jati, Lippo Karawaci's Corporate Communication as reported by a local newspaper.
To do so, the company schedules extraordinary of general meeting shareholder on November 23 2010. When the agendas could be approved, Lippo Karawaci enables to bag Rp3 trillion cash from such corporate actions.
Lippo Karawaci's President Director Ketut Budi Wijaya said the company requires huge capital to underpin expansion program in the hospital business. It needs US$1 billion capital in the next 5 years.

Disclosure: No position at the stock mentioned above.

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