Shipyard operator from Pontianak (West Kalimantan) PT Steadfast Marine has set its IPO price at Rp110-120 per share, to raise proceeds of Rp38.5-42 billion. It will offer 350 million shares, representing 35% of its total issued and paid-up capital. The Company will also issue 175 million units of warrant. Steadfast is now constructing 13 ships ordered by Transportation Ministry. Since 2005, Steadfast has built 88 ships.
Steadfast booked revenues of Rp485.56 billion in 2017 and booked net profit of Rp10.08 billion. Its assets reached Rp665.78 billion per Dec 2017. The Company targets to book revenues of Rp320 billion this year. Steadfast schedules its offering in June 5, 2018 and listing on Indonesia Stock Exchange (IDX) in June 8, 2018. Jasa Utama Capital ac as underwriter for IPO of Steadfast.
Steadfast is also affiliated to shipping firm Logindo Samuderamakmur (LEAD) as Rudy Kurniawan Logam who holds 33.1% stake in Steadfast also acts as chief commissioner of Steadfast and president director of LEAD.