PT Medikaloka Hermina plans to launch an initial public offering (IPO) by mid next year for 15% shares, targeting to raise Rp2.2 trillion. The IPO proceeds will be used to fund the expansion of new hospitals and debt payment. Hermina Group has 25 hospitals mostly operating in Java. The hospital group of RS Ibu dan Anak Hermina recently built its hospital in Balikpapan city, Kalimantan. Hermina targets to have 45 hospitals by 2020.
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