JAKARTA - PT UBC Medical Indonesia Tbk plans to list its shares on the Indonesia Stock Exchange (IDX) by holding an initial public offering (IPO). The company released as many as 700 million shares, or equivalent to 17.72 percent of the company's paid-up and issued capital at a price of around Rp100-Rp105 per share. This means that the company will reap fresh funds worth Rp70 billion to Rp73.5 billion from this action.
The company focuses on providing in-vitro diagnostic medical devices (instruments) and consumer/reagents, which are solutions to detect infectious diseases and congenital abnormalities. The company is currently appointed as a distributor of a principal that is a biotechnology manufacturer of Developed Countries, including the United States, Japan, and China in providing the best technology for laboratories throughout Indonesia.
UBC Medical Indonesia President Director, FX Yoshua Raintjung explained that the company's move to enter the Indonesia Stock Exchange (IDX) through the IPO is part of a strategy to increase the company's funding capacity and governance to be even better.
"The company's performance until December 2023 still recorded positive income growth, where for the last 3 years the Company has increased its reputation in the medical device market as one of the leading suppliers for newborn screening products and latent tuberculosis infection (ILTB)," said Yoshua, at the due diligence meeting. IPO, Jakarta, Friday 21 June.
He is optimistic that the current prospects for the Health Industry, especially post-covid 19, the Government will begin to focus its health budget on promotive and preventive programs to achieve Indonesia Gold 2045 targets.
"This is believed to increase the absorption of the Company's medical device and reagent products," he said.
All net funds from the IPO will be used for working capital in order to support the Company's operational activities and business development, including for operational costs such as buying merchandise, transportation costs, office costs, selling costs, rental costs and others, and repaying business debts to suppliers.
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A company engaged in the Distributor of Medical Devices has appointed PT Lotus Andalan Sekuritas as Lead underwriter.
President Director of PT Lotus Andalan Sekuritas (Lotus) Wientoro Prasetyo as the underwriter for the implementation of the securities explained that the company obtained a preeffective permit from the Financial Services Authority on June 14, 2024.
As for the IPO schedule as follows, the initial offering period is: 19-26 June 2024, then the estimated effective date: 28 June 2024, the estimated public offering period 2-4 July 2024, the estimated allotment date: 4 July 2024, the estimated date of distribution of shares electronically: 5 July 2024, and the estimated date of listing on the Stock Exchange 8 July 2024.
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