Reuters – CVC-Owned Matahari Launches Up to $1.36B Offering

CVC Capital Partners and PT Multipolar Tbk launched on Monday an up to $1.36 billion offering of shares in retailer PT Matahari Department Store, seeking to benefit from growing investor appetite for consumer stocks in Indonesia and partially cash out of one of their most profitable investments in the region, Reuters reported. CVC, through one of its subsidiaries, and Multipolar are offering 1.167 billion shares in Matahari in a range of 10,000 to 11,250 rupiah, putting the total deal at 13.13 trillion rupiah ($1.36 billion), according to the term sheet.

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