T

he Indonesia Stock Exchange (IDX) has revealed that two firms are set to list their shares, while some others are on their way to going public and raising funds from the capital market.

According to Hoesen, the bourse director of corporate listings, two firms will make their stock market debuts in the first half of this year, the first of which is hospital operator Mitra Keluarga Karyasehat while the other is miner Merdeka Copper and Gold.

'€œMitra Keluarga is scheduled for listing later this month while Merdeka Copper & Gold will possibly list their shares on the bourse in May,'€ Hoesen told reporters on Friday.

According to a prospectus published on Friday, Mitra Keluarga will have its book building period for its initial public offering (IPO) start on March 16 and allot the shares on March 20, before a scheduled listing on March 24.

The company, part of pharmaceutical giant Kalbe Group, is looking to raise Rp 4.45 trillion (US$336.18 million) from releasing 261.91 million shares '€” equal to 18 percent of its enlarged capital '€” priced at Rp 17,000.

About 189.16 million of the shares are owned by Lion Investments Partners BV, which currently holds a 66 percent stake in the company.

Proceeds from releasing the existing shares will go directly to Lion, which will see its ownership in the company diluted to 49.7 percent after the IPO.

The remainder of shares to be floated '€” equal to Rp 1.24 trillion '€”is new shares, the proceeds of which will be used to finance the company'€™s expansion.

Meanwhile, Merdeka Copper and Gold will be the first miner still in the exploration stage to be listed on the bourse, after a regulation allowing mining firms that have yet to start production enter the bourse was introduced in November.

The Financial Services Authority (OJK) and IDX introduced the stipulation to ease access for miners to the capital market and boost numbers of listed companies on the stock exchange.

Merdeka Copper and Gold is part of investment firm Saratoga Investama Sedaya '€” founded by local tycoons Edwin Soeryadjaya and Sandiaga Uno.

Merdeka has yet to disclose the amount of shares it will float or its targeted funds, but the company has appointed Indo Premier Securities as its underwriter and carried out a mini expose with the IDX on Feb. 11.

The bourse aims to have 32 companies go public this year, but so far only lender Bank Yudha Bakti has made its listing debut in January.

The OJK, in a press briefing held on Thursday, said there were two other firms working to go public this year, with a total indicative values set at Rp 517.42 billion.

Some firms are also reportedly planning to make entries later this year, namely developers PP Properti and Puradelta Lestari, broadband wireless access provider and Lippo Group-affiliated Internux, and manufacturing firm Garuda Metalindo.

PP Properti '€” a subsidiary of state-run construction firm PT Pembangunan dan Perumahan (PP) '€” is looking to raise Rp 1.5 trillion from releasing 35 percent of its shares, according to kompas.com.

Meanwhile, Puradelta Lestari '€” part of Sinar Mas Land '€” is reportedly looking to generate $300 million from the stock market and is slated to conduct a mini expose next week.

The OJK reported that one company was looking to raise Rp 400.5 billion from a rights issue, while 10 other firms were planning to raise Rp 9.15 trillion from offering bonds.