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Indonesian gold miner Merdeka Gold Resources soared 25% in a $359.6M IPO, boosting Indonesia’s sluggish market.
Indonesian gold miner Merdeka Gold Resources made a strong debut on September 23, 2025, raising $359.6 million in the country’s largest IPO of the year.
Shares surged 25% on first trading, fueled by record gold prices and investor demand for commodity assets.
The funds will support the expansion of the Pani Gold Project, a major new mine expected to produce up to 500,000 ounces annually by 2033.
The IPO reflects growing confidence in Indonesia’s mining sector and its rising gold output, projected to increase 60% this year.
While concerns remain over debt and related-party control, the listing boosted Indonesia’s otherwise slow IPO market, which has raised over 15 trillion rupiah in 2025.
El minero de oro indonesio Merdeka Gold Resources subió un 25% en una OPI de $ 359.6 millones, impulsando el lento mercado de Indonesia.