Medical supplier CHEK to launch IPO on Indonesia Stock Exchange

Published: 2025-06-26 00:50:07 ET TMO

Published on 06/26/2025 at 00:50

PT Diastika Biotekindo (CHEK), a longstanding distributor in Indonesia’s medical equipment sector, is preparing to list its shares on the Indonesia Stock Exchange (IDX) on July 10, Indonesia Business Post reports. The company plans to issue up to 815mn new shares through an initial public offering (IPO), amounting to 20.04% of its enlarged capital post-IPO. The share price will range between IDR120 and IDR140, potentially raising up to IDR114.1bn (approximately $7mn).

All proceeds from the IPO are earmarked for working capital needs, specifically for inventory procurement and operational expenses, according to the company’s prospectus.

Founded in 1989, CHEK has built a solid reputation as a medical equipment distributor, partnering with international brands such as Bio-Rad and Thermo Fisher. The IPO is intended to bolster CHEK’s footprint in Indonesia’s growing healthcare market, including enhanced participation in government procurement programmes like SIHREN, SOPHI, and InPLUS, overseen by the Ministry of Health.

CHEK shares close ownership ties with PT UBC Medical Indonesia Tbk (LABS), another IDX-listed medical supplier. Both entities are majority-owned by PT Optel Investama Mulia, which controls 76.54% of CHEK and 72.39% of LABS. The IPO is supported by Lotus Sekuritas, the same underwriter used by LABS.

CHEK is indirectly linked to Chinese pharmaceutical tycoon Lam Kong through Hope Fortune Investment Ltd, a Cayman Islands entity that fully owns Active Rich Investment Limited, one of the shareholders in Optel Investama. In addition to its holdings in the healthcare sector, Optel is involved in investment advisory and pharmaceutical trade.