Jakarta. Charlie Hospital Semarang, located in Central Java, has become the 64th entity to be listed on the Indonesia Stock Exchange (IDX) this year with the market identifier code RSCH, following its successful initial public offering (IPO) that raised Rp 60.95 billion in fresh capital.

At the IDX inclusion ceremony on Monday, Charlie Hospital's CEO, Junianto, announced that the funds generated from the IPO will be allocated towards the construction of a new hospital in Demak and the acquisition of new medical equipment.

"We will allocate 40 percent of the IPO proceeds to complete the construction of our hospital in Demak, which is currently at 85 percent completion," Junianto said.

"The new hospital is being built on a 17,000-square meter plot, and we are confident that it will become the largest and best-equipped hospital in Central Java," he added.

In contrast to competing hospital chains that primarily focus on major cities, Charlie Hospital is strategically expanding its operations in second-tier cities within Central Java.

"With a population of 45 million, Central Java holds significant potential for growth. Our plan is to tap into this potential. We have also acquired land in Ungaran for the construction of another hospital within the next five years," Junianto said.