Merdeka $XAUUSD Resources (EMAS) Files for IPO in Hong Kong to Expand Investor Base



PT Merdeka Gold Resources Tbk (EMAS) has filed for stock listing on the Hong Kong exchange to expand its investor base and access global funding, amid plans to increase production at its flagship gold mine.

According to Reuters on Monday (23/32026), in a document submitted to Hong Kong Stock Exchange, the company, which is already listed on the Indonesia Stock Exchange, stated that the move aims to increase its profile among international institutional investors.

Merdeka Gold reported a net loss of US$27.5 million in 2025, up from a loss of US$12.7 million in 2024.

The company has appointed UBS and CITIC Securities as joint sponsors in the listing process.

In its document, Merdeka named the Pani Gold Mine project in Gorontalo as Indonesia's largest primary gold mine based on resources and reserves.

The mine has approximately 7 million ounces of gold resources and 5.2 million ounces of ore reserves.

This expansion into the international capital market is expected to strengthen the company's financing structure amid large investment needs for mine project development.

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