Skip to content
E-Tailing

Matahari Department Store ups stake in MatahariMall.com operator

By Wei ZhangIndonesia
1 min read
Rians Matahari Mall 03
Rians Matahari Mall 03
Indonesia public listed retail company PT Matahari Department Store Tbk (LPPF) has increased its ownership in PT Global Ecommerce Indonesia (GEI), which indirectly owns stake in e-commerce player MatahariMall.com.

GEI is the controlling shareholder of PT Sinar Rekata Earth and PT Lenteng Transcontinental. The two subsidiaries are the principal shareholders of PT Solutions E-commerce Global, which operates MatahariMall.com.

In a prospectus submitted to the Indonesian Stock Exchange, Matahari Department Store said, it has bought 4.4 million shares of GEI valued at Rp 53.14 billion ($3.88 million).

LPPF exercised its option to buy the GEI shares at a price of Rp 12,065 per share in accordance with the agreement signed granting option rights on August 15, 2015.

Prior to the transaction, LPPF’s holding was 2.63 million shares in PT GEI or 1.99%, PT Matahari Putra Prima Tbk (MPPA) 2.63 million shares or 1.99%, PT Duta Wibisana Anjaya 5 million shares, or 3.79%, PT Sinar Mustika Dutamas 10 million shares, or 7.58%, PT Investama Digital Venture 111.65 million shares or 84.64%.

After the transaction (options were exercised), the ownership of LPPF in PT GEI increased to 5.16%, MPPA at 1.93%, PT Duta Wibisana Anjaya 3.67%, Dutamas Sinar Mustika 7.34% and PT Investama Digital Venture 81.9%.

In the prospectus, Matahari Department Store said that it carried out the transactions because it considers e-commerce as having high growth potential in the country.

MatahariMall.com, officially launched its operations in September 2015 to tap Indonesia’s growing online retail space.

Also Read: Indonesia e-commerce Dealbook : Government mulls five-year roadmap, Mataharimall launches online platform

Indonesia’s MatahariMall ties up with state postal service for O2O push

Lees ook:

Lees ook:

AdvertisementAdvertise with usMobile 320×100

Tags

Background from the Retail Academy

Background guides from the Retail Academy, free to read.

  • Property and rents · Indonesia

    Malls and rents in Indonesia

    Who the landlords are, how leases are structured, what drives rent, and how to choose a location in Indonesia.

    Asia Market Guides · 8 min read

  • E-commerce · Indonesia

    E-commerce in Indonesia

    Which platforms matter in Indonesia, how buyers pay, why cash on delivery still shapes the economics, and what a delivered order really costs.

    Asia Market Guides · 9 min read

  • E-commerce

    Omnichannel fulfilment

    Ship-from-store, click and collect, marketplace fulfilment and live commerce, what each model demands from inventory accuracy, staffing and systems, and wher…

    Retail Operations · 11 min read

  • Indonesia

    Retail in Indonesia

    Around 280 million people, thousands of inhabited islands, dominant convenience and warung trade, and import rules that stop first shipments at the port.

    Asia Market Guides · 20 min read

Weekly Briefing

Asia's retail intelligence, in your inbox

Monday, Wednesday and a Friday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.

  • Top industry moves and market shifts
  • Weekly data-driven analysis from across Asia
  • Monday, Wednesday and the Friday Weekly Wrap

Read by retail operators, investors and brand teams across Asia.

Protected by a quick human check. No spam, ever. Unsubscribe in one click.

SecureGDPR ready