Pelita Samudera lists shares on IDX
Tuesday, December 5 2017 - 06:54 AM WIB
Petromindo|Thomas
Shipping company PT Pelita Samudera Shipping Tbk, which is primarily engaged in the shipment of coal, listed on Tuesday its shares on the Indonesia Stock Exchange following a recent initial public offering (IPO).
The company raised proceeds of Rp 135.8 billion from the sale of 20 percent shares to the public. About 60 percent of the proceeds will be used for capital expenditure, 20 percent to repay debts, and the remainder for working capital.
Iriawan Ibarat, President Director of Pelita Samudera told Petromindo.com that the company?s business is expected to grow going forward following its listing in the stock market.
The company currently holds contract to ship a total of 30 million tons, of which 27 million tons have been realized, and is optimistic to complete the remainder before the end of this year.
The company?s coal clients include PT Jembayan Muarabara, PT Maritim Barito Perkasa, PT Adimitra Baratama Nusantara, PT Marunda Graha Mineral, PT Batubara Global Energy, PT Berau Usaha Mandiri, PT Mahakam Sumber Jaya, PT Trubaindo Coal Mining, PT Bumiraya Utama Lines, KCH Energy Co, and Adani Pte serta Avra Commodities.
Editing by Reiner Simanjuntak