JAKARTA (Yosefardi) – Property developer PT Lippo Karawaci Tbk (LPKR) had Wednesday sold 82.5 million shares of PT Siloam International Hospitals Tbk (SILO), representing 7.1% of SILO’s enlarged shares capital.
The divestment of SILO shares was facilitated by Credit Suisse, priced at Rp10,400 per share, a 7.8% discount, to raise proceeds of Rp858 billion. SILO closed at Rp11,275 on Thursday (March 12).
LPKR now holds 78.9% SILO shares, while public’s shareholding increased to 21.1% from previous 14%. Currently SILO has market capitalization of Rp13 trillion.
LPKR said it will use the fund from SILO shares divestment for financing its hospital projects and related property business.