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

The prospective issuer, PT Nitrasanata Dharma, has set an offering price of Rp1,250 for its initial public offering (IPO) on the Indonesia Stock Exchange (IDX). This price sits near the lower end of the price range specified in the IPO prospectus, which is between Rp1,200 and Rp1,400 per share.

The company, which manages the Jakarta Eye Centre (JEC) eye hospital network, plans to release 325,322,300 new shares. Consequently, the maximum funds raised from the stock market debut are expected to reach Rp406.65 billion.

The prospective issuer, which will trade under the stock code JECX, intends to use the proceeds primarily to repay a portion of its principal loans at PT Bank Central Asia Tbk. (BBCA) and PT Bank HSBC Indonesia, amounting to approximately Rp275 billion. The remaining funds will be used for capital injections into PT Nitra Sanata Bali and additional working capital for routine operations.

JEC’s primary operational locations consist of five specialist eye hospitals and 11 clinics spread across Java, Bali, and Sulawesi.

Regarding profit and loss performance, JEC has recorded a gradual increase in revenue. Current year profit for 2025 was recorded at Rp72.49 billion. However, high operating and financial expenses have placed pressure on net profit compared to the 2023 achievements.

The public offering period for JECX will run from 1 to 3 July 2026, with the allotment date falling on 3 July 2026. The electronic share distribution date is scheduled for 6 July 2026.

The listing of JECX shares on the IDX will take place on 7 July 2026.