Singapore: Marco Polo Marine has announced that 49% owned associate company Pt. Pelayara Nasional Bina Buana Raya (BBR) has moved a step closer to an IPO on the Indonesia Stock Exchange.
The firm has obtained the pre-effective letter for BBR’s initial public offering registration statement from Capital Market supervisory Agency which instructs it to publish its abridged prospectus and to commence bookbuilding for the IPO.
The company provides domestic ship chartering services and owns a number of tugs and barges. [05/12/12]