IPO News Indonesia: Jasa Armada Indonesia Makes Trading Debut
Vessel guidance, sea freight and maritime services company Jasa Armada Indonesia, a subsidiary of state-owned port operator Pelabuhan Indonesia II (abbreviated Pelindo II), became the 36th company to have completed its initial public offering (IPO) on the Indonesia Stock Exchange in 2017. On Friday (22/12) the company made its trading debut on the local bourse.
Jasa Armada Indonesia released 1.21 billion shares, or 22.86 percent of the company's issued and paid up capital, through the IPO for a price of IDR 380 per share. Another portion of seven percent is expected to be released too in the short term but it remains unknown to which party.
Initially, Jasa Armada Indonesia planned to release 30 percent of its shares to the public. Meanwhile, it priced the IPO offering (IDR 380 a piece) at the low end of its IDR 325 - 530 price range, implying the company detected not too strong investor appetite.
Jasa Armada Indonesia collected IDR 461.89 billion (approx. USD $34.2 million) through the IPO. Herman Susilo, Finance Director of Jasa Armada Indonesia, stated that most of these funds - about 90 percent - will be used to finance the company's capital expenditures and the remainder will be used as working capital. The company plans to buy 15 new vessels in the next two years. In 2018 it wants to purchase eight new vessels with a value of around IDR 60 billion, each.
Susilo added that - besides operating in the parent company's working areas - Jasa Armada Indonesia also wants to operate in a number of new areas including Luwuk (Sulawesi), Kepulauan Seribu (off the coast of Jakarta), and Natuna.
Danareksa Sekuritas, Mandiri Sekuritas, and RHB Sekuritas Indonesia were appointed as underwriters for the IPO.
On Friday (22/12) Indonesia's benchmark Jakarta Composite rose 0.61 to finish at a new all-time record high of 6,221.01 points. Shares of Jasa Armada Indonesia rose 5.79 percent after its first trading day.
Last Update: 29 Mar 2021
IPOs on the Indonesia Stock Exchange up to 22 December 2017
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| Sanurhasta MitraMINA | 79 | 64 | 23.44% | N/A | 0.00% | 58.00% |
| Forza Land IndonesiaFORZ | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Industri dan Perdagangan Bintraco DharmaCARS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Nusantara Pelabuhan HandalPORT | 490 | 498 | -1.61% | N/A | 0.00% | 16.11% |
| Sariguna PrimatirtaCLEO | 468 | 466 | 0.43% | N/A | 0.00% | -9.13% |
| Pelayaran Tamarin SamudraTAMU | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Cahayasakti Investindo SuksesCSIS | 80 | 76 | 5.26% | N/A | 0.00% | 25.00% |
| Terregra Asia EnergyTGRA | 140 | 142 | -1.41% | N/A | 0.00% | -49.28% |
| First Indo American Leasing Tbk.FINN | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Alfa Energi Investama Tbk.FIRE | 590 | 605 | -2.48% | N/A | 0.00% | -48.47% |
| Totalindo Eka Persada Tbk.TOPS | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Kirana Megatara Tbk.KMTR | 416 | 414 | 0.48% | N/A | 0.00% | 20.93% |
| Hartadinata Abadi Tbk.HRTA | 206 | 208 | -0.96% | N/A | 0.00% | -11.21% |
| Integra IndocabinetWOOD | 770 | 750 | 2.67% | N/A | 0.00% | 19.38% |
| MAP Boga AdiperkasaMAPB | 1,330 | 1,330 | 0.00% | N/A | 0.00% | 3.10% |
| Armidian Karyatama Tbk.ARMY | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Buyung Poetra Sembada Tbk.HOKI | 252 | 254 | -0.79% | N/A | 0.00% | -76.34% |
| Marga Abhinaya Abadi Tbk.MABA | 50 | 50 | 0.00% | N/A | 0.00% | 0.00% |
| Megapower Makmur Tbk.MPOW | 82 | 80 | 2.50% | N/A | 0.00% | 22.39% |
| Mark Dynamics Indonesia Tbk.MARK | 1,070 | 1,020 | 4.90% | N/A | 0.00% | -1.83% |
| Ayana Land International Tbk.NASA | 104 | 104 | 0.00% | N/A | 0.00% | 0.00% |
| Emdeki Utama Tbk.MDKI | 224 | 220 | 1.82% | N/A | 0.00% | -8.94% |
| Trisula Textile IndustriesBELL | 143 | 143 | 0.00% | N/A | 0.00% | -9.49% |
| Kioson Komersial IndonesiaKIOS | 590 | 600 | -1.67% | N/A | 0.00% | 4.42% |
| Garuda Maintenance Facility AeroAsiaGMFI | 120 | 120 | 0.00% | N/A | 0.00% | -10.45% |
| Malacca Trust Wuwungan Insurance Tbk.MTWI | 103 | 103 | 0.00% | N/A | 0.00% | 63.49% |
| Kapuas Prima Coal Tbk.ZINC | 128 | 129 | -0.78% | N/A | 0.00% | -26.86% |
| M Cash Integrasi Tbk.MCAS | 4,580 | 4,500 | 1.78% | N/A | 0.00% | 0.00% |
| PP Presisi Tbk.PPRE | 206 | 208 | -0.96% | N/A | 0.00% | -18.90% |
| Wijaya Karya Bangunan Gedung Tbk.WEGE | 214 | 216 | -0.93% | N/A | 0.00% | -17.05% |
| Pelita Samudera Shipping Tbk.PSSI | 214 | 208 | 2.88% | N/A | 0.00% | 24.42% |
| Panca Budi Idaman Tbk.PBID | 1,575 | 1,580 | -0.32% | N/A | 0.00% | -2.48% |
| Dwi Guna Laksana Tbk.DWGL | 181 | 184 | -1.63% | N/A | 0.00% | 10.37% |
| Asuransi Jiwa Syariah Jasa Mitra AbadiJMAS | 163 | 175 | -6.86% | N/A | 0.00% | -18.09% |
| Campina Ice Cream IndustryCAMP | 242 | 244 | -0.82% | N/A | 0.00% | -22.44% |
| Jasa Armada IndonesiaIPCM | 314 | 322 | -2.48% | N/A | 0.00% | -10.80% |
| Combined Total | 15,424 | 15,313 | 0.72% | -8.77% |
Green colour indicates upward movement
Red colour indicates downward movement
P = price; E = earnings; D = dividend; Yield = D/P
"N/A" indicates P/E < 0 (negative earnings)
"-" indicates E,D,P or YTD is not available