CVC exits Matahari with $227m block

Shareholders including two controlled by CVC Capital Partners sold shares in Indonesia’s largest shopping mall operator on the back of strong operational figures.

CVC exits Matahari with $227m block

CVC Capital Partners and another shareholder of Indonesia's Matahari Department Store capitalised on the stock’s strong market performance by raising Rp3 trillion $227 million through an accelerated bookbuild.

A trio of shareholders including Asia Color, Meadow Asia, and Conrex offered a total of 125.2 million shares in Matahari -- 4.3% of the retail chain's outstanding share capital -- at an indicative price range of Rp17,000 to Rp17,800 each, or a discount of 5.3% to...

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