UGM‑Linked Swayasa Prakasa Prepares for IPO on IDX

RRI.CO.ID, Jakarta - Research-based healthcare company PT Swayasa Prakasa Tbk. (SWAP) is preparing to conduct an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX).

A subsidiary of public university Gadjah Mada University’s (UGM) holding and investment company, PT Gama Multi Usaha Mandiri (Gama Multi Group), Swayasa Prakasa will offer up to 323 million new shares to the public. This represents a maximum of 30.30 percent of the issued and fully paid-up capital following the IPO.

“The total value of the public offering is a maximum of IDR 45.22 billion (approximately USD 2.55 million),” Swayasa Prakasa’s management said in an information disclosure filed with the IDX in Jakarta on Monday, August 24, 2026, as quoted by Antara.

Swayasa Prakasa has set the initial offering price range at IDR 130–140 per share. The bookbuilding period will take place from August 24–27.

The IPO offering period is scheduled for September 2–8, followed by share allocation on September 8 and distribution on September 9. The company is targeting its listing on the IDX on September 10.

Proceeds from the IPO will be used to strengthen the company’s operations and financial structure. The company will allocate approximately IDR 15.8 billion as working capital to increase production capacity and improve product quality.

The company has also set aside around IDR 12.2 billion for capital expenditures. Meanwhile, IDR 12 billion will be used to settle obligations to PT Gama Multi Usaha Mandiri (GMUM) and the Gadjah Mada University Foundation (YUGM).

In this corporate action, Swayasa Prakasa appointed PT Sukadana Prima Sekuritas as the underwriter for the securities offering. In terms of shareholder structure, GMUM is the controlling shareholder with 721,898,050 shares, or 97.16 percent.

UGM holds 20,009,190 shares, or 2.693 percent. PT Radio Swara Gadjah Mada holds 549,920 shares, or 0.074 percent, while Bondan Ardiningtyas owns 542,840 shares, or 0.073 percent.

Swayasa Prakasa operates in the research-based healthcare manufacturing industry. The company expands its business through several strategic business units as part of commercializing UGM’s research results.

The company was established under Deed of Establishment No. 09 dated January 12, 2012. Commercial operations began in 2014 to support the downstream transformation of UGM’s research and innovation into competitive industrial products. ***