PT Jasa Armada Indonesia (JAI), subsidiary of state port operator PT Pelabuhan Indonesia II (Pelindo II) plans to launch the intial public offering (IPO) by end this year. Elvyn G Masassya, president director of Pelindo II, said JAI will offer 20% shares to public and targets to raise Rp2 trillion fund. Elvyn also said other 2 units of Pelindo II, PT Indonesia Kendaraan Terminal and PT Pelabuhan Tanjung Priok, mull IPO next year with Rp2 trillion target of fund each.