LIPPO Limited, the flagship company of the Lippo Group, will sell 36 million new shares, 2.79 per cent of its enlarged issued share capital, to the China Travel Services Group. The sale will raise $102.6 million before expenses. The price has been set at Lippo Ltd's closing price on Friday. The new shares will hold equal status with the existing issued shares of the company, except they will not be eligible for the dividend for 1992. The subscriber - China Travel Building Contractors Hongkong, a subsidiary of China Travel Services (Holdings) Hongkong - is a member of China Travel Services Group, whose interests include tourism, freight forwarding and transportation services, and godown operations. China Travel Building Contractors is engaged in property investment and development in China. Lippo spokesman James Leung said the share sale reflected the group's interest in China. He said the transaction was a further step in the development of a long-term relationship with China Travel Services Group.