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Saratoga eyes four subsidiaries to go public on IDX

Those portfolios include cold-chain service provider MGM Bosco Logistics, solar energy company Surya Energi, beauty clinic ZAP Clinic and Brawijaya Healthcare. 

Ni Made Tasyarani (The Jakarta Post)
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Jakarta
Wed, January 22, 2025

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Saratoga eyes four subsidiaries to go public on IDX Market watch: A screen at the Indonesia Stock Exchange (IDX) in Jakarta shows stock quotes on Jan. 2. The IDX Composite Index closed higher on the first day of trading of the new year. (Antara Foto/Hafidz Mubarak A)

I

nvestment company PT Saratoga Investama Sedaya (SRTG) hopes to have four firms in its portfolio for an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).

Those portfolios include cold-chain service provider MGM Bosco Logistics, solar energy company Surya Energi, beauty clinic ZAP Clinic and Brawijaya Healthcare. 

Devin Wirawan, investment director at Saratoga said that the four were large companies in their respective fields and he saw a potential to see their debut on the IDX trading floor, but he has yet to reveal when the investment firm seeks to realize the plan.

“We think that they [the four subsidiaries] have enough capacity to list on the stock exchange,” said Devin, as quoted from Kumparan.

Read also: Saratoga eyes health care and renewable energy for portfolio

He went on to say that Brawijaya Healthcare was one of Saratoga’s latest investments, of which it acquired majority stake in early 2024, and which currently owned and operated five hospitals and two clinics while aiming to build two hospitals each year. 

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Devin expressed optimism regarding Brawijaya’s business expansion capabilities, which are supported by “a management team with strong experience in the healthcare sector”. 

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