Indonesian offshore vessel operator Pelayaran Tamarin Samudra has announced a plan for its IPO on the Jakarta Stock Exchange.
Pelayaran Tamarin Samudra plans to issue 1bn shares, accounting for about 25% equity in the company, at RP105-170 per share to raise RP105-170bn ($7.9m-12.8m).
The book building of the IPO will be conducted from April 13 to April 19 and the company’s shares are scheduled to be listed on the stock exchange on May 10.
According to Kardja Rahardja, chief executive of the company, the proceeds from the IPO will be used for working capital and financing equipment.
“We are optimistic that this stock will get a positive response from potential investors because it is supported by sound financial fundamentals, professional management and stable operation,” said Rahardja.
Pelayaran Tamarin Samudra currently operates eight vessels including two accommodation work barges, two AHTS vessels, one platform supply vessel and three multipurpose tugboats.
