Sillo lists shares on IDX
Thursday, June 16 2016 - 05:35 AM WIB
Shipping firm PT Sillo Maritime Perdana listed its shares on the Indonesia Stock Exchange (IDX) Thursday following an initial public offering (IPO) earlier this month.
The company sold 20 percent of its shares to the public, raising about Rp 70 billion in proceeds.
President Director of Sillo, Edi Yosfie said that about 97 percent of the proceeds were invested in PT Suasa Benua Sukses, in which the firm holds a 50.84 percent stake. The remainder is used for working capital.
Sillo, which was set up in 1989, has a fleet of eight vessels, all of which currently under long-term contracts with oil and gas firms. Among of the company?s clients China National Offshore Oil Corporation SES Ltd, Petrochina International Jabung Ltd, Total E&P Indonesia, Chevron Indonesia and Conoco Phillips Indonesia Inc.
Last year, Sillo booked a revenue of US$15.6 million, and operating profit of $5.2 million.
Editing by Reiner Simanjuntak