Lippo Group Speaks Up on Selling OVO Shares



Laila Afifa

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  • TEMPO.CO, Jakarta - Lippo Group Director Adrian Suherman issued a statement about the group's decision to sell a portion of its shares in PT Visionet International or OVO. Adrian said that Lippo needs partners to develop the financial technology company.

    "From the beginning, we believed that in order to make OVO grow, we need partners who can complement our visions and missions in developing e-money fintech," he said through a written statement, Thursday, November 28.

    Adrian asserted that Lippo is highly committed to supporting the growth and development of OVO as one of Indonesia's largest electronic money companies, by which taking in partners will help greatly.

    "It is our huge commitment to bring in new partners so that OVO can continue to improve its services to the community," Adrian said.

    As the founder of OVO, Adrian said he will always support the company while helping the government achieve success in the financial inclusivity program.

    Previously, Lippo Group founder Mochtar Riady confirmed the sale of the company's shares in OVO, leaving just 30 percent in its ownership.

    Mochtar said the decision was taken because OVO spends too much on promotions. "They continue to burn money, we cannot afford it," he said on November 28.