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Jakarta Post

Hermina sticks with plan despite unfavorable IPO

  • Winny Tang

    The Jakarta Post

Jakarta   /   Thu, May 17 2018   /  02:38 am

Health industry: PT Medikaloka Hermina president director Hasmoro (front right) receives a token of appreciation from Indonesia Stock Exchange (IDX) director Alpino Kianjaya after an initial public offering in Jakarta on Wednesday. The company, which runs the Hermina hospital, earned Rp 1.3 trillion from the IPO and will use the funds to build more hospitals (25 percent), to purchase medical equipment (25 percent) and to repay debt (38 percent). (KONTAN)Hospital operator Medikaloka Hermina (Hermina) will continue with its plans to take on new hospitals and add more beds in its existing units this year even though its first listing on the stock market on Wednesday was below expectations.Hermina raised Rp 1.3 trillion (US$92.3 million) from the initial public offering (IPO) on Wednesday as it released 351.38 million new shares, equal to 11.8 percent of its issued and fully paid up capital....