Lippo Limited
| Company type | Public |
|---|---|
| Industry | Holding company |
| Founded | January 30, 1973 |
| Founder | Mochtar Riady |
| Headquarters | Hong Kong , Hong Kong |
Area served | Hong Kong, Singapore, Malaysia, China, Indonesia |
Key people | Stephen Riady (Chairman) |
| Products | Holding company for Lippo China Resources, Hongkong Chinese Limited, Auric Pacific Group (formerly) |
| Owner | Lippo Capital (majority ownership) |
Lippo Limited () is a publicly traded corporation incorporated in Hong Kong and acts as the holding company for Hongkong Chinese Limited (), (), and Auric Pacific Group (), all of which are listed entities. Established by Indonesian-Chinese businessman Mochtar Riady, the majority ownership of Lippo Limited lies with Lippo Capital. This entity is controlled 60% by Mochtar's son, Stephen Riady (through Lippo Capital Group), alongside his brother James Tjahaja Riady (via PT Trijaya Utama Mandiri).
History
The company initially registered as Public Finance (H.K.) Limited () on 30 January 1973. It adopted the name Lippo Limited () on 30 July 1991.
In 1998, the group created a joint venture named Lippo CRE (Financial Services) Limited through its subsidiary Lippo China Resources (), partnering with China Resources Enterprise to acquire controlling interest in The HKCB Bank Holding Limited (currently known as Hongkong Chinese Limited, ), which owned 60.6% of Hongkong Chinese Bank. This acquisition was valued at approximately HK$1.2 billion.
By 2001, Lippo China Resources repurchased a 50% share in Lippo CRE (Financial Services) Limited and an additional 5.84% equity in HKCB Bank Holding from China Resources Enterprise for around HK$1.8 billion, thereby raising its stake by 35.23%. In the same year, HKCB Bank Holding sold Hongkong Chinese Bank to CITIC Ka Wah Bank for HK$4.2 billion.
Auric Pacific Group, a subsidiary listed on the second tier and predominantly owned by Lippo China Resources, was taken private in December 2016. This transaction was led by Lippo Limited's chairman Stephen Riady and his son-in-law Andy Adhiwana through the special purpose vehicle Silver Creek Capital at a price of S$1.65 per share.
Subsidiaries
- Lippo China Resources (71.2%)
- Hongkong Chinese (65.8%)
- previously owned
- Auric Pacific Group
- Délifrance Asia Ltd. (100%)
- Delifrance Singapore Pte. Ltd. (100%)
- Delifrance (HK) Ltd. (100%)
- Delifrance (Malaysia) Sdn. Bhd. (100%)
- Shanghai Delifrance Foodstuff Co., Ltd. (100%)