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flag Indonesian gold miner Merdeka Gold Resources soared 25% in a $359.6M IPO, boosting Indonesia’s sluggish market.

flag 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. flag Shares surged 25% on first trading, fueled by record gold prices and investor demand for commodity assets. flag 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. flag The IPO reflects growing confidence in Indonesia’s mining sector and its rising gold output, projected to increase 60% this year. flag 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.

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