Lippo Malls Indonesia Retail Trust Trust launches $63 mil rights issue

Lippo Mall Kuta in Bali, one of LMIR Trust's assets (Picture: LMIR Trust website)
Lippo Mall Kuta in Bali, one of LMIR Trust's assets (Picture: LMIR Trust website)
SINGAPORE (EDGEPROP) - Singapore-listed Lippo Malls Indonesia Retail Trust (LMIR Trust) has announced a non-underwritten rights issue to raise up to approximately $63 million, offering 117 new units for every 100 existing units at $0.007 per unit, representing a significant discount to market and net asset value benchmarks.
The proceeds will be used primarily to repay existing loans, fund capital expenditure, and support general working capital, with the sponsor PT Lippo Karawaci Tbk committing to take up about 95% of the rights units through an irrevocable undertaking.
The rights issue aims to strengthen LMIR Trust's financial position and support ongoing asset enhancement initiatives across its retail mall portfolio. The manager expects the minimum proceeds raised will be sufficient to meet current funding needs, and the rights units will rank pari passu with existing units. The rights issue is expected to increase LMIR Trust's market capitalisation and trading liquidity, potentially boosting its visibility among investors and analysts.
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Eligible unitholders with Singapore addresses can participate, while ineligible unitholders will not receive allotments but may benefit from the sale of their entitlements if a premium is achieved.
The timetable for the rights issue runs from December 2025 to January 2026, with trading of new units expected to commence on Jan 26, 2026.
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