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According to the Bank’s website, the proposal is for IFC to be a lead investor in the IPO and to invest own account equity in Indonesian Rupiah (“IDR”) of up to a maximum of (i) IDR520 billion (approximately US$35 million equivalent); or (ii) 30% of the total IPO size.
The Company plans to use proceeds from the IPO to expand its operations in Indonesia and to pursue a regional expansion strategy. As a lead investor, IFC will support the Company's IPO and help it to develop its E&S and governance standards.
This is a Category B Project according to IFC’s Policy on Environmental and Social Sustainability (2012) as the proposed project is expected to have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures, as described in the following sections. Key E&S risk and issues associated with this project include: the company's capacity and systems to assess and manage E&S risks and issues associated with its operations and implementation of E&S management system (ESMS); provision of fair and safe working conditions for its employees and contract workers; implementation of Occupational Health and Safety (OHS) policies and procedures; pollution prevention including management of medical wastes; life and fire safety (L&FS) and emergency response procedures; and supply chain management.
Proceeds from the IPO will be used to finance Medela’s expansion capex and working capital needs over the next five years, along with potential strategic acquisitions.
IFC's Investment as Approved by the Board: Equity 16.87 million (USD)
PT Medela Potentia is one of Indonesia's largest healthcare and pharmaceutical distribution companies. Medela was established in the 1980s as the distribution arm of PT Dexa Medica (Dexa), a leading pharmaceutical manufacturer in Indonesia. Medela and Dexa (collectively referred to as the Group) are currently owned by the Soetikno family (the Sponsor).
The Soetikno family founded Medela and its sister company, Dexa, a pharmaceutical manufacturing company. Concerned by Indonesia’s scarce supply of medicines, the family established Dexa in Palembang, South Sumatra, in 1969. In the 1980s, Medela was established as a separate distribution company for Dexa due to the government’s regulation that required the separation between manufacturing and distribution.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | PT Medela Potentia | Client | - |
PT Medela Potentia
Mr. Krestijanto Pandji
President Director
krestijanto.pandji@medela-potentia.com
Jl. Fatmawati Hospital Kav. 33, Jakarta
www.medela-potentia.com
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You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org