JAKARTA – PT Hero Global Investment Tbk (HGII), a renewable energy issuer, officially debuted on the Indonesia Stock Exchange (IDX) on Thursday (9/1).

In the first trading session, HGII shares rose by 22%, reaching IDR 250 per share from the initial offering price of IDR 200 per share.

In its Initial Public Offering (IPO), the company released 1.3 billion shares, equivalent to 20% of the total capital post-IPO, which amounts to 6.5 billion shares. Through this corporate action, HGII raised fresh funds tota;ling IDR 260 billion.

“The IPO funds will be used for expanding our renewable energy generation capacity. We aim to have a total capacity of 100 MW by 2031,” said Robin Sunyoto, President Director of HGII.

The IPO proceeds will be allocated for the construction of a 25 MW hydroelectric power plant (PLTA) and a 10 MW mini-hydro power plant (PLTM), both located in North Sumatra.

Additionally, following the IPO, Shikoku Electric Power Company, Inc. (Yonden), through its subsidiary SEP International Netherlands B.V. (SEPI), will acquire a 25% stake in HGII. This agreement is detailed in a Conditional Share Purchase Agreement (CSPA) signed at the end of 2024.

“After Yonden joins, the shareholding composition of HGII will be 55% by the founders, 25% by Yonden, and 20% by the public,” Robin explained.

For reference, Yonden is a Japanese energy company listed on the Tokyo Stock Exchange. Established in 1951, Yonden has total assets of JPY 1,629,054 million (approximately IDR 167 trillion) and operating revenues of JPY 787,403 million (around IDR 81 trillion).

This strategic move highlights HGII's commitment to supporting Indonesia’s energy transition towards more environmentally friendly sources. (DK/ZH)