JAKARTA - The company in the field of sea transportation services, namely PT Hasnur Internasional Shipping Tbk (HIS) plans to be listed on the Indonesia Stock Exchange (IDX) in the near future. The company will conduct an initial public offering (IPO) following the issuance of the initial prospectus on July 26, 2021.
Along with the growing business in the field of transporting general goods by ship, HIS seeks to increase investment to be used for the procurement of ships and barges, as well as additional investment for the development of port businesses and services related to port businesses.
"To realize this goal, HIS will offer a maximum of 525,250,000 new shares or a maximum of 20 percent of the company's total paid-up and fully issued capital with a nominal value of Rp. virtually, Monday 26 July.
The initial offering of HIS shares was carried out with a price range of Rp. 230 - Rp. 300 per share. That means, the target fund that HIS wants to get is around Rp. 120.80 billion - Rp. 157.57 billion.
HIS gave a mandate to PT RHB Sekuritas Indonesia to act as the Managing Underwriter to be able to list HIS shares in the third quarter of this year.
Of the number of shares offered, HIS allocates a maximum of 5 percent of the number of Shares Offered in the Initial Public Offering for employee share ownership programs (Employment Share Allocation or ESA) or a maximum of 26,262,500 shares.
Jayanti Sari conveyed that the planned use of the funds from the IPO would be allocated entirely for the development of the HIS business and its subsidiaries, all of which are engaged in the business of sea transportation and port services.
In detail, 46 percent of the IPO proceeds will be used for capital expenditures to purchase three sets of ships and barges, with an indicated price of Rp. 150 billion. If the 46 percent proceeds from the IPO are not sufficient to fund the purchase of 3 vessels and barges, then the shortfall will use third party funds which will be used after the IPO.
Management hopes that the purchase of the 3 sets of fleets will improve operational performance, by improving the composition of the use of the fleet between rented ships and own ships.
Meanwhile, as much as 23 percent of the proceeds from the IPO will be channeled to HRT's subsidiaries in the form of loans to purchase equipment to support development plans and facility improvements in carrying out their business activities in the Port Services sector. Then, 31 percent will be used for working capital to support operational activities.
For information, the Initial Offer Period starts from July 26, 2021 to August 6, 2021 and HIS targets to be listed and listed on the IDX in the third quarter of this year as well.
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