Two Companies Debut on IDX, Raise Over IDR 517 Billion

RRI.CO.ID, Jakarta - The Indonesian capital market welcomed two new issuers through Initial Public Offerings (IPOs) on Wednesday, July 8, 2026. The listings expand access to funding for companies while strengthening activity on the Indonesia Stock Exchange (IDX).

The IDX officially listed the shares of PT Bach Multi Global Tbk (BACH) and PT Esa Medika Mandiri Tbk (EMMI). Together, the two companies raised IDR 517.57 billion (approximately USD 28.74 million) through their IPOs.

“We hope this step marks the beginning of a new journey for both companies to expand their impact, strengthen their competitiveness, and grow sustainably alongside the Indonesian capital market,” said IDX Director of Corporate Valuation, Saidu Solihin, at the IDX Main Hall in Jakarta on Wednesday, as quoted by Antara.

Saidu noted that entering the capital market provides companies with opportunities to access a broader range of funding sources while strengthening the implementation of good corporate governance. He said this step serves as the foundation for sustainable business growth.

BACH issued 615 million new shares -- representing 15.06 percent of its issued and fully paid-in capital -- at IDR 442 per share. The company raised IDR 271.83 billion, and its stock immediately hit the Upper Auto-Rejection (ARA) limit after surging 24.43 percent to IDR 550 per share.

“Meanwhile, the remaining approximately 30 percent will be used to partially repay bank loans, thereby strengthening the company’s capital structure and reducing its leverage ratio,” said President Director of PT Bach Multi Global Tbk, Budi Kurniawan.

He added that 70 percent of the IPO proceeds will be allocated as working capital to purchase generators to meet sales and rental demand.

EMMI offered 522.85 million new shares -- equivalent to 30 percent of its issued and fully paid-in capital -- at IDR 470 per share. The company raised IDR 245.74 billion, and its stock price rose 20.21 percent to IDR 565 per share during morning trading.

“In addition, part of the funds will be used to repay a portion of bank loans, to construct a new factory building in Cikupa, and the remainder will be used to purchase inventory and cover working capital needs related to projects and the procurement of medical equipment,” said President Director of PT Esa Medika Mandiri Tbk, Florian Chris Widjaja.

He added that the IPO proceeds will also strengthen the company’s capital structure and expand its production facilities. ***