Kimia Farma Pharmacies Will Be Listed On The Stock Exchange In 2025

Illustration (Photo: Doc. Antara)

JAKARTA - PT Kimia Farma Tbk (KAEF) plans to conduct an initial public offering (IPO) for its subsidiary, Kimia Farma Apotek.

KAEF Corporate Secretary Change Winarno Putro said that currently the company has made preparations regarding this matter.

The plan is for Kimia Farma Pharmacy to be targeted by IPO no later than 2025 on the Indonesia Stock Exchange (IDX).

"Everything is still being prepared, not yet there (permission), projected in 2025. Everything must be prepared first," explained Change to reporters, Tuesday, October 31.

In addition, Change conveyed that Kimia Farma Pharmacy's IPO plan must be prepared and also look at the current economic conditions.

The purpose of the IPO of Kimia Farma's subsidiary is for business development.

The reason is, he sees, the health business still has good prospects in the future.

"The goal is for development, if there are funds from outside we will definitely develop better," he said.

According to Change, Kimia Farma Apotek currently dominates the market with 1,250 branches.

However, Change has not been able to inform further because there are no details of the agreement from the IPO plan.

Kimia Farma Pharmacy's market share is the largest, almost 1,250 at this time. Because there is no detailed data yet, so we can't give an idea yet," he said.

Change to convey that future expansion plans will still be carried out to meet the needs of the community.

Because, the goal of business expansion is for business development.

"In terms of need, we'll see what the market looks like. If we force it in Java, it's all full, we also have a pharmaceutical mobile chemical application, meaning we develop ourselves to be close to the community," he explained.

For information, KAEF recorded an increase in revenue of 8.15 percent to Rp7.71 trillion until the third quarter of 2023 when compared to the previous Rp7.13 trillion.

Meanwhile, the company's losses fell 1.97 percent to Rp177.36 billion, compared to the previous Rp180.93 billion.

KAEF's revenue growth was driven by sales growth of ethical products, which increased 12.25 percent or Rp2.89 trillion when compared to the previous year of Rp. 2.58 trillion.

In addition, generic products are also one of the boosters of KAEF's revenue growth in the third quarter of 2023, growing 27.17 percent to Rp1.82 trillion when compared to the previous Rp1.43 trillion.

Furthermore, sales of over the counter (OTC) products on a consolidated basis grew by 2.56 percent compared to the previous Rp1.62 trillion to Rp1.66 trillion.