Lion Selection Group (ASX:LSX) has completed the sale of its 72.8M Merdeka shares on the Indonesian Stock Exchange as part of the consideration for the sale of Lion's Pani joint venture interest.
Lion Selection Group says it received a total of $32.5M, as well as the deferred cash payment of US$10M due under the sale.
The company has now paid a 2cps special dividend to shareholders and has $80M in cash available for new investments.
Lion Selection Group says it takes a venture capital style approach to investing and has a net tangible asset backing of $92.7M, or 65.7cps.