Healthcare Issuer EMMI Shares Surge 11.7% on IDX Debut
Healthcare company PT Esa Medika Mandiri Tbk (EMMI) officially listed on the Indonesia Stock Exchange (IDX) on Wednesday, with its shares surging 11.7% on the first day of trading. EMMI opened at a price of Rp525 per share. Through its Initial Public Offering (IPO), the company issued 522.86 million new shares. EMMI President Director Florian Chris Widjaja stated that the funds raised from the IPO will be used to strengthen the company’s capital structure, expand production facilities, and support working capital needs. “Today we officially become part of the IDX family. Our public company status will encourage us to strengthen corporate governance, increase information transparency, and accelerate our steps in building a more independent medical device ecosystem in Indonesia,” Florian said at the IDX building in Jakarta. The IPO proceeds are allocated to three main priorities: strengthening the capital structure, developing production facilities, and adding working capital. A portion of the funds will be used to repay bank loans, another portion for the construction of a new factory building in Cikupa, and the remainder for purchasing inventory and meeting working capital requirements related to medical device projects and procurement. EMMI President Commissioner Surya Gunawan Widjaja added that with the support of public investors, the company will accelerate the development of domestic production capacity and enhance its ability to meet medical device needs for both government and private projects. “Our focus remains on providing reliable products, responsive services, and relevant solutions for the healthcare sector. This is in line with our company motto: healthy people, a strong and advanced nation,” he stated. Going forward, the company will continue its growth strategy by developing locally produced medical device product lines, expanding its distribution network, and strengthening cooperation with international principals, including strategic partners involved in developing production facilities in Indonesia.