PT Puradelta Lestari Tbk will be listed on IDX by August 26

PT Puradelta Lestari Tbk, developer of Kota Deltamas owned by Sinar Mas Land, will be listed on the Indonesia Stock Exchange on August 26. Company that has a 99.9% stake in PT Pembangunan Deltamas will sell 10.9 billion shares and will have 20% public shares. A total of 60% of initial public offering (IPO) funds will be used for infrastructure development, 20% for land acquisition in Bekasi, and 20% for working capital.

Currently, 46% of its shares owned by Sinar Mas Land and 25% owned by Japan's Sojitz Corporation. The sales of industrial land is a major contributor to the company's revenue and has a share of 97%. Kota Deltamas still has 1,317 hectares of land that could be sold. (Investor Daily)

From other news, Sinar Mas Land also cooperates with Courts Asia Ltd from Singapore. Courts are seller of electronics, gadgets, and furniture. In 2014, Courts will open two stores called Big-Box, one at Kota Harapan Indah (1.6 hectares) and one in BSD City (1.8 hectares).

Courts will also build a regional distribution center and office support. Sinar Mas Land will lease their land to Courts for 28 years at the Kota Harapan Indah and 30 years in BSD City. (Kontan)

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