Maritime Humpuss Targets To Raise IDR 270 Billion In Funds From IPO

PT Humpuss Maritime International Tbk (HUMI) is preparing to take the floor on the Indonesia Stock Exchange (IDX) through the Initial Public Offering (IPO). Currently, the company is in the book building period, which runs from 18 July 2023 to 24 July 2023.

HUMI is a company that focuses on four main business lines, including ship rental services for LNG transportation, oil and petrochemical transportation, offshore support, and marine support.

The company engaged in the energy sector will release a maximum of 2.7 billion ordinary shares on behalf of which are new shares and issued from the company's portfolio atay as much as 15 percent of the total issued and fully paid capital in the Company after the Initial Public Offering.

The initial share price set by the company is IDR 100 per share. Thus, the target for IPO funds to be pocketed by HUMI is IDR 270 billion.

The President Director of HUMI, Tirta Hidayat said, the IPO is a strategic step for the company to increase business growth and financial performance.

"The entry of Maritime Humpus into the capital market shows a strong commitment in implementing the company's operations in a transparent, open manner, for all stakeholders," said Tirta, Tuesday, July 18.

Tirta said he was optimistic that the IPO would bring benefits to all stakeholders, including shareholders, employees, customers, business partners, and also the community.

"We have a 20 percent revenue growth target every year, with an asset, income, and profitability increase strategy, as well as our commitment to the good environment, social, and corporate governance," he added.

The company also offered Series I Warrants or 7.5 percent of the total issued and fully paid shares at the time of the registration statement in the context of the Initial Public Offering of Shares with an exercise price of IDR 200 per share, worth IDR 270.7 billion.

As for the use of IPO funds, 10 percent will be used for the Company's working capital needs in order to meet routine operational needs. The remaining 90 percent will be used to strengthen equity in the context of business development.

Meanwhile, 90 percent of the IPO funds will be given to subsidiaries, including PT PCS International, PT OTS International, PT Humpus Transport Curah, PT MCS International, and PT ETSI Hutama Maritim in the form of capital participation.