Lippo Malls Indonesia Retail Trust (LMIR Trust) announced on Jul, 29 2025 that it intends to raise up to about 63.0 million Singapore dollars through a renounceable, non-underwritten rights issue.

The manager, LMIRT Management Ltd., expects to issue as many as 9,005,267,676 new units at an indicative price of 0.007 Singapore dollars per unit. Eligible unitholders will receive 117 rights units for every 100 existing units held on the record date.

The indicative issue price represents a discount of roughly 50.0% to the unit’s closing price of 0.014 Singapore dollars on Jul, 28 2025 and about 30.0% to the theoretical ex-rights price of 0.010 Singapore dollars per unit under the maximum subscription scenario.

Gross proceeds are earmarked primarily for repayment of existing loans, funding capital expenditures—including asset-enhancement initiatives at several Indonesian malls—and general working capital.

Sponsor PT Lippo Karawaci Tbk, through subsidiaries Bridgewater International Limited and LMIRT Management Ltd., has committed to take up its full provisional allotment of roughly 4.27 billion rights units, representing about 47.45% of the existing unit base. As such, the issue will not be underwritten.

Completion of the rights issue remains subject to in-principle approval from Singapore Exchange, the grant of a whitewash waiver by the Securities Industry Council, and the passing of relevant resolutions at an upcoming extraordinary general meeting of independent unitholders.

If fully subscribed, the number of units in issue could rise from 7.70 billion to 16.70 billion, while pro forma net asset value per unit would fall from 5.758 cents to 3.040 cents.