Indonesia Kendaraan Terminal (IKT), a subsidiary of Indonesia’s state-owned port operator Pelabuhan Indonesia II (also known as Pelindo II), plans to complete its initial public offering (IPO) on the Indonesia Stock Exchange (IDX) in the first half of 2018.

Revenue of IKT was strong in 2017, exceeding Rp200 billion. IKT is expected to offer a 30% stake to the public. IKT has three business lines: (1) stevedore (loading and unloading ships), (2) cargodore, and (3) receiving & delivering of cargo. The company, which operates in Jakarta’s Tanjung Priok port (Indonesia’s busiest port), is specialized in the transportation of vehicles, such as cars, trucks and heavy equipment.