State-owned port and harbor services operator Indonesia Port Corporation (IPC), also known as Pelabuhan Indonesia II or Pelindo II, plans to list its subsidiary Jasa Armada Indonesia (JAI) on the Indonesia Stock Exchange IDX) in December 2017. IPC eyes to generate up to Rp2.5 trillion by selling a 30% stake in its unit. JAI is regarded as the most prepared IPC unit that can become a listed company. It would be IPC’s first listed unit. However, over the next two years IPC also wants to list two other subsidiaries: Indonesia Kendaraan Terminal and Pelabuhan Tanjung Priok. Per December 2016 Jasa Armada Indonesia’s assets were recorded at Rp624.4 billion and Rp357.2 billion worth of equity.
