GoTo Gets Closer to Lippo, Will Bank Jago, Bank Nobu Join Forces?

Summary

PT Matahari Putra Prima Tbk (MPPA) controlling shareholder, PT Multipolar Tbk (MLPL), and GoTo Group expressed their plan to participate in MPPA's new shares issuance.

Based on information disclosure to the Indonesia Stock Exchange (IDX) on Tuesday (10/5), MPPA said it would issue new shares scheduled in the fourth quarter of 2021. However, it did not detail the scheme to be used, whether a rights issue or a private placement.

"Multipolar – a leading investor in the intersection of Indonesia's digital and consumer sectors, including investments in more than 40 multi-stage technology companies in Indonesia and the region – and the GoTo Group – the largest technology group in Indonesia, will fund the capital raise," MPPA management stated.

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