Sinarmas Land is one of the largest developers of Jakarta's main office buildings.
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exist Widjaja family It is proposed to bring Singapore-listed developer Private to a company worth S$1.3 billion (US$985 million).
According to regulators, Lyon's investment is the control of the wealthiest clan controlled by the Widjaja family and will purchase the remaining 1.26 billion Sinar Mas Land shares, whose shares are not allowed to be S$0.31 per person, totaling S$391 million (US$292 million (US$292 million) Register Thursday. The company currently holds 2.9 billion shares, equivalent to 70.3% of Sinar MAS Land.
“Stock shareholders will have the opportunity to realize investment in the company at a premium for cash considerations,” Lyon Investment said.
While the quote price was last traded at 0.275 $0.275 before trading on Monday, the stock is currently trading above the quote price in Lyon before the announcement. The stock jumped 22% in trading in Singapore on Friday morning to S$0.335, leading the market at its highest closing since March 2018.
Lyon Investments said Sina Als Land is a thin stock on the Singapore Exchange. It said: “The offerer believes that the offer is an opportunity for shareholders to realize their stock investment at a price (without incurring any brokerage and other transaction costs) that may otherwise be unavailable.”
Sinarmas Land is one of the largest real estate companies in Indonesia, owning some of Jakarta's major office buildings, including the 48-storey Sinarmas Msig Tower and Plaza Thamrin, which includes 95,648 square meters of premium office space. In addition to Indonesia, it also owns property in Australia, China, Malaysia, Singapore and the UK
The Widjaja family's net worth is $18.9 billion, Forbes' Indonesia's 50 most abundant list was published in December 2024. In addition to real estate, the family's Sinar Mas group is also interested in mining, paper mills, financial services, telecommunications and agribusinesses.
