Jakarta. Pharmaceutical distributor Medela Potentia is preparing for its initial public offering (IPO), aiming to raise as much as Rp 805 billion ($48.94 million) in fresh capital.

The company plans to offer up to 3.5 billion shares, or 25 percent of its total equity, to the public at a price range of Rp 180-230 per share. The bookbuilding period runs from March 11 to March 17, with the public offering expected between March 27 and April 11. Medela Potentia aims to list on the Indonesia Stock Exchange (IDX) under the ticker MDLA on April 15.

Indo Premier Sekuritas and Mandiri Sekuritas have been appointed as the underwriters for the offering.

MDLA is currently controlled by Hetty Soetikno, who holds an 88 percent stake, while private company Ekon Prima owns the remaining 12 percent. Post-IPO, a significant portion of the proceeds—86.4 percent after deducting issuance costs—will be allocated to subsidiary Anugrah Argon Medica (AAM). The funds will be distributed as follows: 70.6 percent as a loan and 29.4 percent as additional capital injection.

Market Presence and Financial Performance

With a nationwide distribution network spanning Indonesia and Cambodia, MDLA supplies over 3,000 hospitals, 23,000 pharmacies, 3,500 clinics, and more than 50,000 healthcare facilities.

The company reported net revenue of Rp 10.78 trillion as of September 2024, up from Rp 9.69 trillion in the same period a year earlier. Net profit rose to Rp 252.74 billion ($16 million) from Rp 218.95 billion.

According to MDLA’s preliminary prospectus, its revenue is primarily driven by distribution and marketing activities, with figures adjusted for discounts and product returns.