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
CompanyP: 29 Mar 2021P: 28 Mar 2021Gain/LossP/E ttmYield %Gain/Loss YTD
Sanurhasta MitraMINA796423.44%N/A0.00%58.00%
Forza Land IndonesiaFORZ50500.00%N/A0.00%0.00%
Industri dan Perdagangan Bintraco DharmaCARS50500.00%N/A0.00%0.00%
Nusantara Pelabuhan HandalPORT490498-1.61%N/A0.00%16.11%
Sariguna PrimatirtaCLEO4684660.43%N/A0.00%-9.13%
Pelayaran Tamarin SamudraTAMU50500.00%N/A0.00%0.00%
Cahayasakti Investindo SuksesCSIS80765.26%N/A0.00%25.00%
Terregra Asia EnergyTGRA140142-1.41%N/A0.00%-49.28%
First Indo American Leasing Tbk.FINN50500.00%N/A0.00%0.00%
Alfa Energi Investama Tbk.FIRE590605-2.48%N/A0.00%-48.47%
Totalindo Eka Persada Tbk.TOPS50500.00%N/A0.00%0.00%
Kirana Megatara Tbk.KMTR4164140.48%N/A0.00%20.93%
Hartadinata Abadi Tbk.HRTA206208-0.96%N/A0.00%-11.21%
Integra IndocabinetWOOD7707502.67%N/A0.00%19.38%
MAP Boga AdiperkasaMAPB1,3301,3300.00%N/A0.00%3.10%
Armidian Karyatama Tbk.ARMY50500.00%N/A0.00%0.00%
Buyung Poetra Sembada Tbk.HOKI252254-0.79%N/A0.00%-76.34%
Marga Abhinaya Abadi Tbk.MABA50500.00%N/A0.00%0.00%
Megapower Makmur Tbk.MPOW82802.50%N/A0.00%22.39%
Mark Dynamics Indonesia Tbk.MARK1,0701,0204.90%N/A0.00%-1.83%
Ayana Land International Tbk.NASA1041040.00%N/A0.00%0.00%
Emdeki Utama Tbk.MDKI2242201.82%N/A0.00%-8.94%
Trisula Textile IndustriesBELL1431430.00%N/A0.00%-9.49%
Kioson Komersial IndonesiaKIOS590600-1.67%N/A0.00%4.42%
Garuda Maintenance Facility AeroAsiaGMFI1201200.00%N/A0.00%-10.45%
Malacca Trust Wuwungan Insurance Tbk.MTWI1031030.00%N/A0.00%63.49%
Kapuas Prima Coal Tbk.ZINC128129-0.78%N/A0.00%-26.86%
M Cash Integrasi Tbk.MCAS4,5804,5001.78%N/A0.00%0.00%
PP Presisi Tbk.PPRE206208-0.96%N/A0.00%-18.90%
Wijaya Karya Bangunan Gedung Tbk.WEGE214216-0.93%N/A0.00%-17.05%
Pelita Samudera Shipping Tbk.PSSI2142082.88%N/A0.00%24.42%
Panca Budi Idaman Tbk.PBID1,5751,580-0.32%N/A0.00%-2.48%
Dwi Guna Laksana Tbk.DWGL181184-1.63%N/A0.00%10.37%
Asuransi Jiwa Syariah Jasa Mitra AbadiJMAS163175-6.86%N/A0.00%-18.09%
Campina Ice Cream IndustryCAMP242244-0.82%N/A0.00%-22.44%
Jasa Armada IndonesiaIPCM314322-2.48%N/A0.00%-10.80%
Combined Total15,42415,3130.72%-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