EMAS Targets Global Investors with Hong Kong Stock Exchange Listing Plan
PT Merdeka Gold Resources Tbk (EMAS) has officially submitted a share listing application (Form A1) to the The Stock Exchange of Hong Kong Limited on March 20, 2026, marking a strategic move to expand its presence in global capital markets.
The application follows Hong Kong’s listing regulations, with UBS Securities Hong Kong Limited and CITIC Securities (Hong Kong) Limited appointed as joint sponsors for the process.
The company believes that listing on HKEX will enhance access to international investors, improve stock liquidity, and provide greater financial flexibility to support future business expansion. This move is also expected to strengthen EMAS’s global market position, broaden its shareholder base, and elevate corporate governance and reporting standards in line with international best practices.
Currently, EMAS is developing and operating the Pani Gold Mine located in Pohuwato Regency, Gorontalo. The project is targeted to become one of Asia’s two largest primary gold mines by 2030.
The Pani Gold Mine reached its first gold pour milestone in February 2026 and recorded its initial gold sales in March 2026 to PT Aneka Tambang Tbk under a two-year domestic gold sales agreement. This achievement marks the beginning of EMAS’s commercial production phase.
President Director Boyke Poerbaya Abidin stated that the HKEX listing application represents a continuation of the company’s growth strategy following its IPO on the Indonesia Stock Exchange in September 2025 and the commencement of production at Pani earlier this year.
As part of the listing process, a redacted draft application proof has been published on the HKEX website for informational purposes. The document outlines the company’s business overview, operations, financial performance, and risk factors, but it remains a preliminary version and not a final offering document.
The company emphasized that the document does not constitute an offer to sell or a solicitation to buy securities. The listing remains subject to regulatory approval and market conditions, with no guarantee of completion at this stage.
Management advises shareholders and prospective investors to carefully assess potential risks and exercise caution when making investment decisions while awaiting further developments in accordance with applicable regulations.