Lippo Malls rights offer

Lippo Malls Reit starts marketing for $256 million rights issue

The sponsor, who owns 29.6% of the retail trust, commits to cover the entire issue, should other shareholders choose not to participate.
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Sun Plaza, one of Lippo Malls' properties
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<div style="text-align: left;"> Sun Plaza, one of Lippo Malls' properties </div>

Lippo Malls Indonesia Retail Trust, a Singapore-listed real estate investment trust Reit that invests in and operates income-producing retail properties in Indonesia, on Monday kicked off a marketing roadshow for a rights issue that aims to raise S$337 million $256 million.

The one-for-one renounceable offering, which was first announced on Friday last week, comes as Asian stock markets have come under significant selling pressure amid renewed concerns about the impact of a global economic slowdown on the region. The Singapore Straits Times Index has lost 6.6% over the past four sessions and in Hong Kong the Hang Seng Index slumped 9.8% from Friday through Tuesday before...

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