Lippo has already earmarked USD 500 million for a new online department store, townhall.com reports. The local market has one of Asias biggest untapped ecommerce markets which is only recently drawing major investors in search of the next Alibaba Group. In 2014, Japans SoftBank Corp led a USD 100 million investment in Indonesian online marketplace Tokopedia.
Lippo owns the infrastructure that makes ecommerce possible, such as fiber optic cables, satellites, data centers and fourth-generation mobile network base stations. In January, 2015 SoftBank, Alibaba and others invested about USD 600 million in Chinese taxi app operator Travice. SoftBank also put USD 627 million into Indian online marketplace Snapdeal in 2014.
The group is planning an initial public offering in 2015 for its satellite television company, through which it could raise more than USD 100 million, the source reports.
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