Ciputra Group mulling to merge three public listed firm to simplify the business

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Photo by Ciputra Group

JAKARTA (TheInsiderStories) – Indonesia giant property developer Ciputra Group plan to merge PT Ciputra Development Tbk (IDX: CTRA), PT Ciputra Surya Tbk (IDX: CTRS) and PT Ciputra Property Tbk (IDX: CTRP) to simplify business structure and its liquidity in the stock market.

Tulus Santoso, the corporate secretary and director at Ciputra development, said  the merger would take about six months to be effective. He added, to carry out the merger, Ciputra Development will issue new shares and swap them for public shares in Ciputra Surya and Ciputra Property.

Currently, the public owns 37.34 percent shares in Ciputra Surya and 43.72 percent in Ciputra Property.

 

The company is currently looking at the possibility of securitizing its assets into real estate investment trustees (REITs). The group has potential assets of Rp 15 trillion ($1.1 billion) that would be securitized into REITs.

These assets comprise shopping malls, hotels, office towers, and hospitals with stable recurring incomes.

The post Ciputra Group mulling to merge three public listed firm to simplify the business appeared first on The Insider Stories.

Source: The Insiderstories
Ciputra Group mulling to merge three public listed firm to simplify the business

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