JAKARTA. PT Matahari Department Store Tbk (LPPF)'s plan to close 13 Matahari outlets this year and closely monitor 20 outlets on the watchlist, was responded to by foreign investors selling.

This was conveyed by LPPF Management in its official announcement. This closure, said LPPF Management, is an effort to reorganize the portfolio of Matahari stores which have low performance.

The total number of Matahari outlets operated by LPPF was recorded at 147 outlets, as of September 30, 2024. Previously, at the end of 2023, the company was still operating 154 outlets.

According to data compiled by idnfinancials.com, foreign sell of LPPF shares was recorded at 1.03 million shares today. With a foreign purchase volume of only 407.7 thousand, foreign investors recorded net sales of 622.2 thousand shares today.

Meanwhile, the total foreign sell in the last 5 trading days for LPPF shares was recorded at 3.64 million shares. With a foreign buy volume of only 1.56 million shares, LPPF share transactions in a week recorded a net sale (foreign net sell) of 2.08 million shares.

Despite this, the LPPF share price in today's trading still showed a gain of 1.41% to the level of IDR 1,440 per share. The volume of shares traded was recorded at 1.6 million shares, with a value of IDR 2.31 billion and a trading frequency of 641 times. (KR/LM)