JAKARTA (Yosefardi) – PT Soechi Lines Tbk has set its IPO price at Rp550 per share, to raise Rp1.4 trillion total proceeds.
The company will offer 2.57 billion shares, which represents 30% of the total issued and paid-up share capital, through the initial public offering (IPO) mechanism.
Half of proceeds will be used to expands fleets, while the balance for repayment of loans and working capital. It targets to add 2-3 new vessels by end of this year.
Soechi assigned RHB OSK Securities Indonesia and Mandiri Sekuritas as underwriters of the IPO. The offering is scheduled for November 24-26, 2014 while listing at stock exchange is set for December 2, 2014.
Soechi booked revenue of US$54.7 million in first half of 2014, grew by 18.3% from US$46.2 million in the same period of 2013. While net profit jumped 53% to US$15.6 million from previous US$10.2 million.