Merdeka Gold Resources Eyes Up to Rp 4.88 Trillion from IPO
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JAKARTA, Investortrust.id — Merdeka Gold Resources launches its initial public offering on Monday, Sept 8, 2025, targeting proceeds of between Rp 2.91 trillion and Rp 4.88 trillion by selling 1.61 billion shares, or 10% of its enlarged capital, to the public.
The company, a subsidiary of Merdeka Copper Gold Tbk (MDKA), has set the offering price range at Rp 1,800 to Rp 3,020 per share. PT Indo Premier Sekuritas, PT Trimegah Sekuritas Indonesia Tbk (TRIM), and PT Sinarmas Sekuritas act as joint lead underwriters.
The book-building period is scheduled for Sept 8–10, 2025, with allotment on Sept 19 and listing on the Indonesia Stock Exchange on Sept 23. MDKA controls 62.73% of Merdeka Gold Resources, while other shareholders include businessman Garibaldi Thohir with 6.21%, Winarto Kartono 9.29%, Hardi Wijaya Liong 3.98%, Minister of Maritime Affairs and Investment Saktu Wahyu Trenggono 0.54%, Edi Permadi 1.34%, and the Dharma Tani Village Cooperative with 0.50%.
According to the prospectus, part of the proceeds, amounting to US$20 million or Rp 328.4 billion, will be injected into PT Pani Bersama Tambang (PBT) as a capital contribution to support working capital such as raw material purchases, electricity costs, and labor. Another US$20 million, also Rp 328.4 billion, will be channeled as a loan to PETS for its working capital requirements.
The remaining funds will be used to make early repayment of a shareholder loan to Merdeka Copper Gold (MDKA), the parent company, under a debt agreement worth US$260 million or Rp 4.26 trillion as of Sept 3, 2025.
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