PT MDS Retailing Tbk, known to shoppers as Matahari, is Indonesia's largest department store retailer. It operates more than 140 stores in close to 80 cities, an online channel at Matahari.com, and newer formats including SUKO, ZES and MU+KU, alongside private labels such as Nevada, Connexion, COLE and Little M. Founded in 1958 by Hari Darmawan and headquartered in Tangerang, Banten, the company trades on the Indonesia Stock Exchange under the ticker LPPF and took its current corporate name in April 2026. Singapore-based Auric Digital Retail is its controlling shareholder.
Matahari is publicly traded
IPO'd on Oct 10, 1989
This company is no longer available on our private secondary market. Shares can be traded publicly under LPPF.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
1958
Employees
5,001–10,000
Total Funding
$892M
1 rounds
Last Private Valuation
$0.89B
Apr 2010
Renamed corporate entity to PT MDS Retailing Tbk (ticker LPPF unchanged); stores keep Matahari brand
Cosmetic corporate rename; no valuation or ownership impact, ticker unchanged.
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $892M across 1 rounds
Last updated 09-21-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Apr 2010 | Leveraged Buyout (PE) | $892M | $0.89B | CVC Capital Partners |
Bunjamin J. Mailool
President Director
Monish Manohar Mansukhani
Vice President Director and Chief Executive Officer
Herni Dian Anggreani
Independent Director
Andy Adhiwana
President Commissioner
Adrian Suherman
Commissioner
Bianca Cheo Hui Hsin
Independent Commissioner
Hasan M. Soedjono
Independent Commissioner
Competitor list is illustrative and may be incomplete, stale, or erroneous.
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Shopee Indonesia
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Tokopedia
Indonesian e-commerce marketplace and digital ecosystem
Yes, Matahari is publicly traded under the ticker symbol LPPF on the IDX. The company went public in Oct 10, 1989.
Matahari trades under the ticker symbol LPPF on the IDX. It began trading in Oct 10, 1989.
Matahari (LPPF on the IDX) shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker LPPF to place an order.
Matahari went public in Oct 10, 1989 via ipo, with an offering valuation of approximately $0.89B. PT MDS Retailing Tbk, the company formerly named PT Matahari Department Store Tbk, remains listed on the Indonesia Stock Exchange under the ticker LPPF. The corporate name change approved by shareholders in April 2026 was an entity-level rename only: the listing, the ticker and the Matahari store brand were unaffected. Singapore-based Auric Digital Retail Pte Ltd has been the controlling shareholder since July 2021 and held about 42.5% of the shares as of March 2026, with PT Multipolar Tbk holding roughly 9.3% and public investors the remainder.
Matahari raised $892M across 1 disclosed funding rounds prior to its public listing.
Matahari is headquartered in Tangerang, Banten, Indonesia.
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