Coal vessel provider to float shares in April
Friday, February 25 2011 - 05:18 AM WIB
The company?s IPO prospectus revealed that it would sell 11 percent of its enlarged shares to the public.
IDX-listed energy and contractor firm PT Indika Energy Tbk has option with the company?s key shareholders to acquire 51 percent of MBSS? shares after IPO.
The company operates sets of tugs and barges and transhippers including Ben Glory, Princesse Abby, Princesse Rachel and FC Nicholas, all with maximum loading rate capacity of between 24,000-26,000 tonnes per day.
The company has long-term loading contract with Kalimantan coal miners such as PT Kaltim Prima Coal, PT Adaro Indonesia, PT Berau Coal and PT Kideco Jaya Agung.
According to the prospectus, the four floating cranes loaded 10.6 million tonnes of coal in the nine month of 2010 with revenue of Rp. 159 billion or around US$18 million. (alex)