JAKARTA (TheInsiderStories) – The new comer in stock exchange, PT Indonesia Kendaraan Terminal (IKT) set up the initial public offering’s (IPO) price in the range Rp1,610 to Rp2,250 a piece, said the company in Monday (29/05). The subsidiary of state-owned port operator PT Pelabuhan Indonesia II (Pelindo II) to raise up to 1.26 trillion (US$90 million) from the IPO.
IKT is a terminal which is specially cultivated commercially to provide vehicle terminal service. The services include Stevedoring, Cargodoring, Receiving, and Delivery. It also serves other services Vehicle Processing Center and Equipment Processing Center.
The company was established as a separate business entity on Nov. 5, 2012 with percentage ownership of Pelindo II of 99 percent and PT Multi Terminal Indonesia at 1 percent. Prior to becoming a separate business entity, IKT was only a strategic business unit called Tanjung Priok Car Terminal under its head office and operated since June 2007.