The shares are equal to 30 percent of the company`s subscribed and paid-in capital, according to the company`s condensed prospectus published on Thursday.
Under the prospectus, 86.96 percent of proceeds from the IPO will be used to buy prime mover trucks, ISO tanks, and trailers and to improve infrastructure.
Nearly 13.04 percent of proceeds from the IPO will be used to strengthen working capital, including the purchase of fuels for its fleet, spare parts, and salaries for drivers.
Acting as share issue underwriters will be PT Makinta Securities.
The shares will be offered on July 1, 4 and 5 and listed at the Indonesia Stock Exchange (BEI) on July 12. 2011.
(T.B008/Uu.S012/HAJM/H-YH)
Editor: Priyambodo RH
Copyright © ANTARA 2011
