Video: Medical Device Issuer's IPO Strategy Amid Volatility

The Indonesia Stock Exchange is preparing to welcome medical device company PT Prodia Diagnostic Line Tbk (PRDL), which will conduct an initial public offering (IPO) by offering 522.9 million new shares and targeting fresh funds of up to IDR 62.75 billion. PRDL President Director Cristina Sandjaja stated that PRDL is a manufacturing and processing company for medical diagnostic devices, or an in-vitro diagnostic (IVD) manufacturer. Established in 2010 with chemical reagent production commencing in 2012, the company has served more than 7,600 end users, primarily community health centres (Puskesmas), and is the first company to produce chemical reagents with a domestic component level (TKDN) coverage of over 70%. In this IPO, PRDL intends to use 60% of the proceeds for debt repayment, with the remainder allocated for capital expenditure and working capital. The IPO is also intended to improve corporate quality through the implementation of Good Corporate Governance (GCG) via public company status.