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Lippo Karawaci May Spend 600 Billion Rupiah to Buy Back Shares

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.

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