JECX Sets IPO Price at Rp1,250, Near Bottom of Initial Range

Jakarta — Prospective listed company PT Nitrasanata Dharma has set its initial public offering (IPO) price at Rp1,250 per share for its debut on the Indonesia Stock Exchange (BEI). The price is near the bottom of the initial offering range of Rp1,200 to Rp1,400 per share outlined in the company’s prospectus. The firm, which operates the Jakarta Eye Center (JEC) hospital network, plans to release 325,322,300 new shares, potentially raising up to Rp406.65 billion. Proceeds from the listing will primarily be used to repay part of the company’s loans to PT Bank Central Asia Tbk. (BBCA) and PT Bank HSBC Indonesia, amounting to approximately Rp275 billion. The remaining funds will be allocated for capital injection into PT Nitra Sanata Bali and additional operational working capital. JEC’s main operations currently comprise five specialist eye hospitals and eleven clinics located across Java, Bali, and Sulawesi. In terms of financial performance, the company has recorded a gradual increase in revenue, with net profit for 2025 reaching Rp72.49 billion. However, high operational and financial expenses have weighed on net profit compared to its 2023 results. The public offering period is scheduled from 1 to 3 July 2026, with allotment on 3 July 2026. Electronic distribution of shares will take place on 6 July 2026, followed by the listing of JECX shares on the Indonesia Stock Exchange on 7 July 2026.