May 5, 2011

Lippo Group buys back Lippo Karawaci

Lippo Group through one of its affiliates, Asia Pacific Holdings Limited has reported to Financial Institution and Capital Market Supervisory Agency that the group had bought back shares of PT Lippo Karawaci Tbk.
Director of Lippo Karawaci Mark Wong said Pacific Asia yesterday was reported to Financial Institution and Capital Market Supervisory Agency (Bapepam-LK) that it had bought back about 2.01% or as much as 435 million shares of PT Lippo Karawaci Tbk.
"These shares were purchased by the average market price of Rp776 per share for a total worth Rp338 billion or US$39.5 million," said Mark in a formal written statement, yesterday as quoted by Bisnis Indonesia daily.
It was the second buyback in the last one month for Pacific Asia. In April 18, Pacific Asia bought 3.02% shares of LPKR or equal to 652 million shares valued at US$52 million.
In total, Asia Pacific has bought 1,087 billion shares or 5.21% shares of Lippo Karawaci with a total investment of US$91.5 million.

Disclosure: No position at the stock mentioned above.

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