Conglomerate Mochtar Riady Increases Ownership Portion In Multipolar, Buys 1 Million Shares

Illustration. (Photo: Unsplash)

JAKARTA - The Lippo Group has strengthened its position in one of its business entities, PT Multipolar Tbk (MLPL). This is reflected in what has been done by the family company of the conglomerate Mochtar Riady, namely PT Inti Anugerah Pratama.

In an official statement, quoted on Friday, June 25, Inti Anugerah Pratama has accumulated 1 million MLPL shares with an average purchase price of Rp684 per share. This transaction was carried out in stages, from June 18 to June 21 yesterday.

After the transaction, the ownership portion changed to 66.47 percent. Previously, Inti Anugerah Pratama's ownership portion of MLPL was 66.46 percent.

"The purpose of the purchase is for direct investment," Lippo management wrote.

Multipolar is an investment company owned by the Lippo Group that focuses on investment in the technology, retail, financial, and venture capital sectors. A series of corporate actions have also been and will be carried out by this entity.

Most recently, MLPL announced a corporate action in the form of a share buyback or buyback. Multipolar has budgeted a maximum of Rp425 billion for this corporate action. The price for the implementation of the buyback will be a maximum of Rp720 per share.