Pelita Samudera Shipping offered 1 billion shares to the public, equivalent to 20 percent of the company's enlarged capital. This corporate move led to IDR 135.8 billion (approx. USD $10 million) worth of fresh funds. Securities firms Phillip Sekuritas Indonesia, Erdikha Elit Sekuritas, Shinhan Sekuritas Indonesia and KGI Sekuritas Indonesia were appointed as underwriters.

Sixty percent of these funds - obtained through the IPO - is to be used by Pelita Samudera Shipping for capital expenditure purposes (particularly for the purchase of new ships), while 20 percent is to be used for working capital. The remaining 20 percent will be used to settle the company's debt obligations.

Alex Iriawan Ibarat, President Director of Pelita Samudera Shipping, said the IPO is part of the company's strategy for sustainable growth in the provision of integrated logistics and transportation solutions for (coal) miners.

Pelita Samudera Shipping will use part of the IPO proceeds to buy tugs, barges, floating cargo facilities as well as vessels and tankers. Meanwhile, the company indicated that it wants to diversify its business. So far, it has been mainly focused on coal transportation. However, it now wants to add other business lines, such as crude palm oil (CPO) and crude oil transportation. Currently the company owns 33 tugs units, 29 300-ft barges, five 330-ft barges, four floating loading facility units, one floating bulk unloader, and one floating crane straits phoenix.

Considering Pelita Samudera Shipping is - so far - primarily focused on coal transportation, the direction of the coal price and other developments in coal mining are crucial for the company. Ibarat said he expects to see full utilization of the company's fleet in 2018 because the coal mining industry has been improving in recent years (especially since the second half of 2016). Moreover, the government's 35,000 MW power program, which includes the construction of many new coal-fired power plants, will impact positively on the company's performance.

Last Update: 15 Dec 2017
IPOs on the Indonesia Stock Exchange up to 5 December 2017
CompanyP: 15 Dec 2017P: 14 Dec 2017Gain/LossP/E ttmYield %Gain/Loss YTD
Sanurhasta MitraMINA2,1002,1000.00%N/A0.00%775.00%
Forza Land IndonesiaFORZ7707700.00%N/A0.00%86.89%
Industri dan Perdagangan Bintraco DharmaCARS1,1401,160-1.72%N/A0.00%-34.48%
Nusantara Pelabuhan HandalPORT370390-5.13%N/A0.00%-35.65%
Sariguna PrimatirtaCLEO8058000.62%N/A0.00%123.61%
Pelayaran Tamarin SamudraTAMU2,8502,8500.00%N/A0.00%1,030.95%
Cahayasakti Investindo SuksesCSIS8008000.00%N/A0.00%42.86%
Terregra Asia EnergyTGRA5205200.00%N/A0.00%52.94%
First Indo American Leasing Tbk.FINN121127-4.72%N/A0.00%-32.02%
Alfa Energi Investama Tbk.FIRE1,4351,3407.09%N/A0.00%91.33%
Totalindo Eka Persada Tbk.TOPS3,2303,2300.00%N/A0.00%596.12%
Kirana Megatara Tbk.KMTR4824800.42%N/A0.00%-29.64%
Hartadinata Abadi Tbk.HRTA294300-2.00%N/A0.00%-11.45%
Integra IndocabinetWOOD234238-1.68%N/A0.00%-16.43%
MAP Boga Adiperkasa Tbk.MAPB1,8501,900-2.63%N/A0.00%-26.59%
Armidian Karyatama Tbk.ARMY1651650.00%N/A0.00%-63.33%
Buyung Poetra Sembada Tbk.HOKI3503500.00%N/A0.00%2.34%
Marga Abhinaya Abadi Tbk.MABA2,0901,90010.00%N/A0.00%1,000.00%
Megapower Makmur Tbk.MPOW3002884.17%N/A0.00%-11.76%
Mark Dynamics Indonesia Tbk.MARK1,5851,590-0.31%N/A0.00%323.80%
Ayana Land International Tbk.NASA3983980.00%N/A0.00%127.43%
Emdeki Utama Tbk.MDKI2802742.19%N/A0.00%-51.72%
Trisula Textile IndustriesBELL2082060.97%N/A0.00%16.20%
Kioson Komersial IndonesiaKIOS2,9602,9600.00%N/A0.00%557.78%
Garuda Maintenance Facility Aero Asia Tbk.GMFI334338-1.18%N/A0.00%-8.24%
Malacca Trust Wuwungan Insurance Tbk.MTWI141149-5.37%N/A0.00%-17.06%
Kapuas Prima Coal Tbk.ZINC1,3401,3151.90%N/A0.00%463.03%
M Cash Integrasi Tbk.MCAS2,0502,100-2.38%N/A0.00%-0.97%
PP Presisi Tbk.PPRE3443420.58%N/A0.00%-16.10%
Wijaya Karya Bangunan Gedung Tbk.WEGE268272-1.47%N/A0.00%-9.46%
Pelita Samudera Shipping Tbk.PSSI111113-1.77%N/A0.00%-26.00%
Combined Total29,92529,7650.54%81.74%

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

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