Lippo Malls Indonesia Retail Trust property, Palembang Icon. (Photo: Lippo Malls Indonesia Retail Trust)Lippo Malls Indonesia Retail Trust property, Palembang Icon. (Photo: Lippo Malls Indonesia Retail Trust)

The manager of Lippo Malls Indonesia Retail Trust (LMIRT) has sold 157,296,347 units of the REIT to Bridgewater International Limited.

The units were sold at a price of SGD0.21 each.

Bridgewater International Limited is an indirect wholly owned subsidiary of PT Lippo Karawaci Tbk, the sponsor of the REIT.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.