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View all search resultsMerdeka Gold files for Hong Kong IPO to broaden investor base
The firm said the move aims to access offshore capital while ramping up production at its flagship Pani gold mine in Pohuwato, Gorontalo.
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The Tujuh Bukit gold mine is seen running on on Oct. 25, 2024, in Banyuangi, East Java, operated by PT Merdeka Copper Gold subsidiary PT Bumi Suksesindo. (JP/Divya Karyza)
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ocal miner PT Merdeka Gold Resources has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange, paving the way for a dual listing after having been listed on the Indonesia Stock Exchange since September last year.
The firm said the move aims to broaden its investor base and access offshore capital while ramping up production at its flagship Pani gold mine in Pohuwato, Gorontalo, according to an exchange filing issued on Friday and quoted by Reuters.
Merdeka Gold, which raised Rp 4.66 trillion (US$275 million) during its IPO on the local bourse, said the Hong Kong listing would raise its profile among international institutional investors.
Swiss bank UBS and China-based brokerage Citic Securities are acting as joint sponsors.
Read also: Pani gold reserves climb to 4.8m oz amid record bullion rally
Merdeka Gold Resources is a subsidiary of PT Merdeka Copper Gold and part of a broader mining and metals group controlled by PT Provident Capital Indonesia and PT Saratoga Investama Sedaya.
The firm reported a net loss of $27.5 million in 2025, widening from a $12.7 million loss a year earlier.
