AsiaPorts and Logistics

Indonesia Kendaraan Terminal eyes IPO in July

Indonesia car terminal operator Indonesia Kendaraan Terminal (IKT), a unit of state-owned port operator Pelindo II, has announced a plan to conduct an initial public offering (IPO) on the Indonesia Stock Exchange in mid-July 2018.

According to Chiefy Adi Kusmargono, President Director of IKT, the company plans to sell a 30 percent stake to a strategic partner as part of its future growth strategy.

Around 50 percent of the IPO proceeds will be used by the company for the development of vehicle storage facilities at its terminal.

IKT currently operates a 31 hectare terminal in Tanjung Priok and the company plans to expand the size to 89 hectares in the next five years, which could expand the terminal’s handling capacity from 700,000 units to 2.5m units per year.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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