JAKARTA (RambuEnergy.com) – PT Nusantara Pelabuhan Handal Tbk, a container terminal operator and port-related service provider, is offering 576.858 million shares or 20.5% of the company’s enlarged capital, as part of the company’s move to raise fresh funds from the capital market.
In a published announcement on Tuesday (Mar 7), the company announced that it has set the IPO price at Rp535 per share.
The company, which is controlled by businessman Garibaldi Thohir, has appointed PT Trimegah Sekuritas Indonesia Tbk as the underwriter of the IPO. Given the IPO price, the company expects to raise Rp308.62 billion from the IPO.
It said 65% of the IPO proceeds will be used to pay the company’s debts to PT Episenta Utama Investasi as one of the shareholder of the company and the remaining 35% will be used to strengthen the company’s capital structure.
Currently, Episenta holds 93.2% shares in the company and will dilute to 74.1% after the IPO, while PT Permata Cakawala holds 5.8% shares and will dilute to 5.4% after the IPO. The remaining shares will be held by the public at 20.5% after the IPO.
The shares offering will be set on March 7-9, followed by listing of the stock on the Indonesian Stock Exchange (IDX), which is scheduled on March 16, 2017.
The company handles around 600,000 20-foot equivalent units (TEUs) of cargo per annum.