Capitol Nusantara plans IPO
Thursday, December 19 2013 - 12:49 AM WIB
Shipping company PT Capitol Nusantara plans to sell part of its shares via an initial public offering (IPO) next year as it aims to grab more business from the oil and gas market, reports said on Thursday.
The IPO is scheduled for January 3-9 of next year, expecting to raise about Rp 39.5-Rp47.9 billion in proceeds, which will be used to help finance the purchase of new vessels to serve the oil and gas industry.
President Director Suta Wijaya was quote by Bisnis Indonesia daily as saying that the entire proceeds will be used to finance the purchase of new anchor handling tug supply (AHTS) vessels. ?By purchasing the AHTS vessels, going forward we?ll focus on the oil and gas sector,? he said.
Investor Daily said that Capitol?s fleet currently comprises of five AHTS vessels, 27 tugboats, 28 barges, and 2 units of floating crane. (*)