Siloam International Hospitals, the biggest private hospital operator in Indonesia will have its stock trading debut today, following last week successful initial public offering, which garnered a significant amount of interest from global and domestic investors.
Siloam — which operates as a subsidiary of Lippo Karawaci, Indonesia’s largest listed property company by market value, total assets and revenues — will have its stock trading under the symbol SILO.
The offering of Siloam’s shares to retail investors ended on Friday. The management of the hospital operator had made international IPO roadshows to Singapore, Hong Kong, and London, which successfully garnered interests from investors.
“I am very happy with the success of the IPO, an important milestone for Siloam,” said Dr. Gershu Paul, the president director of Siloam Hospitals, in a statement on Wednesday.
He added the IPO will boost Siloam’s capability in improving health service within the nation in the future. “We have [a] commitment to continue boosting market capitalization to the higher level as well as giving added value to shareholders.”
Siloam raised Rp 1.4 trillion ($122 million) from selling 13.5 percent of its equity at Rp 9,000 a share. After the IPO Lippo Karawaci’s ownership in Siloam was reduced to 86.5 percent from 100 percent.
Goldman Sachs and Credit Suisse were lead underwriters and global book runners, while CLSA, CIMB and Ciptadana Securities were co-lead managers.
In the past 17 years, Siloam has been the pioneer in private hospital operator business in Indonesia.
Its Siloam Hospitals Lippo Village, situated in Tangerang, Banten, was the first hospital in Indonesia to be accredited by the Joint Commission International in 2007 and has since maintained its accreditation.
As of April 30, Siloam operated 13 hospitals, with total bed capacity at 3,436. It had 1,178 doctors, including 930 specialists, and employed 2,607 nurses and other allied health personnel. The latest hospital it inaugurated was Siloam Hospitals TB Simatupang.
The company plans to open eight more hospitals through the end of 2014. In the next five years it expects up to 40 hospitals with as many as 10,000 beds.
Source: thejakartaglobe.com