en.Wedoany.com Reported - Merdeka (MGR), Indonesia's largest primary gold mining company, launched a global offering in Hong Kong in June 2026 and plans to list on the Main Board in the form of Hong Kong Depositary Receipts (HDR) on June 26. The company thus becomes the first Indonesian enterprise to list in Hong Kong via HDR and the first to achieve dual listing in both Indonesia and Hong Kong.

The listing has attracted 11 cornerstone investors, including Chinese financial institutions such as Ping An Asset Management and GF Fund, as well as Chinese gold enterprises like "Wanguo". MGR's core asset is the Pani gold mine, with gold mineral resources amounting to 7.4 million ounces, and its costs are in the lowest quartile of the global gold mining cost curve.

Three global commodity traders—Glencore, Trafigura, and Mercuria—also participated as cornerstone investors in the listing. After a strong performance following its listing on the Indonesia Stock Exchange in September 2025, MGR chose a secondary listing in Hong Kong to leverage the international capital platform for higher liquidity and to attract a more diversified base of international institutional investors.

MGR's listing case demonstrates that Hong Kong can serve as a platform connecting Chinese demand, international capital, and global mining assets, providing financial support for resource security strategies. This model may open new avenues for Southeast Asian resource companies seeking financing in Hong Kong and for the revival of the HDR market. Hong Kong, home to Asia's largest pool of international institutional investors and a network of major global mining funds, is becoming a key gateway for global mining enterprises to enter the Asian capital market.

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