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Jakarta, September 8th, 2020 - PT Soho Global Health Tbk (ticker code: SOHO), a leading national company in the healthcare sector with a history of more than 70 years in Indonesia, today made an Initial Public Listing (IPO) on Indonesia Stock Exchange and became the 42nd listed company this year or the 705th of total listed companies.
SOHO has set an offering price of Rp1,820 per share and has gone through the public offering process on September 2 – 3, 2020. The number of shares offered was 114,380,700 shares or 13.78% of total issued and paid-up capital of the Company after Initial Public Offering.
SOHO President Director and Chief Executive Officer, Rogelio Paulino Jr La ‘O (Cooey), said that the IPO was a significant milestone for SOHO to strengthen its position in the pharmaceutical and healthcare sector in Indonesia. Therefore, all proceeds from the IPO will be used by SOHO to strengthen its distribution business, the strategic asset for SOHO as well as the enabler for SOHO’s other business segments.
"We are very pleased to have successfully completed the Company's IPO. We are committed to continue to take aggressive proactive steps to deliver better on the needs of consumers, with more products that urgently serve patients and customers, and that they deliver better health outcomes. Together, thereby create a Healthier Indonesia at the same time remain committed to consistently generate value for all our shareholders”.
Cooey added, SOHO has recorded sales growth of over 10% for the past 3 years, and achieved a 40.7% increase in sales during the first 6 months of 2020. These achievements have proven SOHO's ability and reliability to execute business strategies and face challenges in a volatile and rapidly changing business environment. SOHO is also one of the few national companies in Indonesia that consistently maintains a global standard of good corporate governance.
"Driven by reliable R&D and a deep understanding of the healthcare industry in Indonesia, we continue to innovate to bring new products to market. Our flagship brand, Imboost, is one hugely successful example in the immunity segment. Imboost is ranked among the most valuable brands in the pharmaceutical industry in terms of revenue and has been growing by an average of 25% each year for the past seven years. Mid-year 2020, because of the consumer it serves under the current pandemic, Imboost has grown by more than 100%,” added Cooey.
Director, Head of Investment Banking, PT Indo Premier Sekuritas, Rayendra L. Tobing, explained that along with this Initial Public Offering, SOHO will also issue new shares in the context of implementing the Management Incentive Program, warrants conversion and convertible notes conversion. In overall, SOHO will issue 553,290,122 shares with market capitalization of IDR 2.3 trillion. Rayendra said that the pharmaceutical industry in Indonesia has enormous growth potential supported by stable economic growth, a supportive demographic profile and government support in developing the industry. Along with the COVID-19 pandemic, the demand for healthcare products and services has increased rapidly around the world, including Indonesia. In the absence of a vaccine that protects against the COVID-19 virus, there has been an increased public awareness to maintaining good health, including the demand for products offered by SOHO.------------------------------------------------
About SOHO Global Health SOHO Global Health is a leading healthcare company with a more than 70-year history and core competencies in the areas of natural/herbal health care products and services. Our more than 30 group brands range from best seller immunomodulator brands like Imboost, hepatoprotector product like Curcuma FCT, anti-diarrheal and laxative products like Diapet and Laxing, to leading kids multivitamin brands like Curcuma Plus and Fitkom. Guided by our corporate purpose “We hold the care of human life as our highest priority,” we help to prevent and treat diseases, promote healthy lifestyle and the well-being of the community.
Unleashing the potential of nature – that’s what we are good at. We are committed to discover and develop important natural/herbal based therapies to improve the lives of patients with lower side effects and bring to market products with strong clinical evidence. Our Curcuma plantation and research facility - SOHO Center of Excellence in Herbal Research (SCEHR) shows our commitment to focus on herbal research and cultivation with unyielding integrity to generate added value for our customers and society.
SOHO Global Health offers a unique and best-in-class platform in branding, sales & marketing, manufacturing and distribution to support future growth in the Indonesian healthcare market. Supported by over 2,500 employees, SGH brand stands for trust, reliability and quality among healthcare professionals, patients and customers. We have a strong commitment to sustainability and create long term value. The patient is and will remain at the core of what we do, the reason we come to work every day.*******
For more information please contact:Corporate Secretary PT Soho Global Health Tbk Yuliana Tjhai, Director Phone: ( 021 ) – 2985 8888 / 8899 Email: firstname.lastname@example.org Website: www.sohoglobalhealth.com
SOHO Global Health has consistently delivered sustainable, solid financial results despite the soft market condition. In a rapidly-changing environment, the key to our success has been our ability to balance continuity with change. It has required discipline and decisive actions to build sustainable value for the long term.
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