Steadfast Marine to offer 35% of shares to public

Steadfast Marine to offer 35% of shares to public
Steadfast Marine to offer 35% of shares to public

PT Steadfast Marine will be listed on Indonesia Stock Exchange (BEI). The company is engaged in shipbuilding is planning to release 35% of its shares to the public

JAKARTA (infolog): Later, the shares will be issued together with warrants so that every purchase of two Steadfast marine shares will earn one warrant.

“The target can reach Rp 40 billion,” said Eddy Kurniawan Logam, Steadfast Marine Commissioner, Monday (9/4) as quoted by Kontan.co.id as saying.

Steadfast Marine will use all funds from this corporate action for working capital.

The company intends to register in early June by using the December book. Since last year 2005, this company has made about 88 ships.

Meanwhile, in this year, the company plans to make about 13 vessels. Steadfast Marine Management says that clients of this company come from private companies as well as governments.

The largest Steadfast Marine customer is the Department of Transportation. Steadfast Marine also plans to approach several other customers in the years to come.

Steadfast Marine currently makes ships that support logistics, patrol, and petroleum services.

Steadfast Marine has assets of up to Rp 600 billion. The company has also recorded a profit of Rp 10 billion per end last December. Major Services Capital Securities will act as the underwriter of this corporate action. (ac)

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