JAKARTA (TheInsiderStories) - Offshore vessels provider PT Sillo Maritime Perdana Tbk sets its initial public offering (IPO) share price at between Rp117 to Rp 140 per unit. The company will offer 600 million shares in the IPO or 23.08 percent of its enlarged capital, with an aim to generate Rp84 billion (US$6.18 million).
PT Lautandhana Securindo and PT UOB Kay Hian Securities have been appointed as underwriters for the IPO. The company President Director Edi Yosfi, said part of the proceed from the IPO will be used to acquire 50.84 percent stake in an upstream oil and gas services company, PT Suasa Continent Success (SBS) and the remaining will be used for working capital. The company sets the initial offering period on May 25 to 30, followed by the effective date on June 6, bookbuiding period on June 8 to 10 and to listing on June 16.
Currently, the company’s shares are owned by PT Maxima Prima Sejahtera and PT Karya Gemilang Sinergy. As of end 2015, total assets of Sillo Maritime reached $41.96 million and equity at $30.67 million. Last year, the company posted revenues of US$ 15.60 million, down 23% over the same period last year. (*)