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Lippo Karawaci May Spend 600 Billion Rupiah to Buy Back Shares

Oct. 14 (Bloomberg) -- PT Lippo Karawaci plans to spend as much as 600 billion rupiah to buy back its shares over an 18-month period after obtaining shareholders approval, the Indonesian property developer said.

Lippo will hold a shareholders meeting on Nov. 15, the company said in a statement published in Bisnis Indonesia today. The buyback aims to stabilize Lippo’s share price so that it better reflects the company’s performance, it said.

Link to Company News:{LPKR IJ <Equity> CN <GO>}

To contact the editor responsible for this story: Berni Moestafa at bmoestafa@bloomberg.net

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