April 18, 2018 / 5:13 AM / 3 months ago

Indonesian hospital operator Hermina plans $127 mln IPO - underwriter

JAKARTA, April 18 (Reuters) - Indonesian hospital operator PT Medikaloka Hermina plans to raise as much as 1.75 trillion rupiah ($127.12 million) in an initial public offering (IPO) in May, Laksono Widodo, a director of Mandiri Sekuritas which helps underwrite the transaction, said.

The company is selling a maximum 351.38 million of shares, or 11.82 percent of its stake, at a price range of 3,700-5,000 rupiah a piece.

Proceeds of the IPO will be used to fund finance expansion. ($1 = 13,767.0000 rupiah) (Reporting by Cindy Silviana; Writing by Fransiska Nangoy and Gayatri Suroyo; Editing by Vyas Mohan)

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