The initial public offering (IPO) of the shares of a subsidiary of PT Merdeka Copper Gold Tbk (MDKA), namely PT Merdeka Battery Materials (MBM) is targeted to take place in the first half of 2023. This was conveyed by Investment Director of PT Saratoga Investama Sedaya Tbk Devin Wirawan recently. The issuer codenamed SRTG owns 18.34% or 4.42 billion shares of MDKA as of December 31 2022.

"For this year, maybe what has been discussed is that later Merdeka (MDKA) will carry out an IPO of one of their subsidiaries , Merdeka Battery Materials. I think the target is still in Q1 or first half ," Devin told reporters. However, he could not provide further information regarding the fundraising target to be achieved through the IPO. In addition to the IPO in the mineral business sector, Saratoga also announced that it is working on a business project in the health sector. "Hopefully we can open in the near future," added Devin.

Source: https://www.beritasatu.com/ekonomi/1023149/merdeka-battery-materials-ditargetkan-ipo-kuartal-i2023