CVC and partners raise $1.3 billion from Matahari sell-down

International investors are keen to get a piece of Indonesia’s leading department store operator, allowing the price to be fixed above the mid-point.

Private equity firm CVC Capital and the other controlling shareholders of Indonesia’s Matahari Department Store have raised Rp12.66 trillion $1.3 billion after pricing the fully-marketed follow-on share sale above the mid-point of the range.

The deal, which is the largest equity capital markets transaction in Indonesia since Bakrie Brothers raised $4.4 billion from a rights issue five years ago, attracted a lot of attention and sources said over the weekend that the two-thirds of the base offering that was open to institutional investors other than the cornerstone investors was four to five times covered.

However, the demand was price sensitive and on the final day of the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222