Samudera to float shares<\/p>\n
SINGAPORE (Reuter): Shipping firm Samudera Shipping Line Pte
\nLtd (SSL) said yesterday it had received approval for primary
\nlisting on the second board of the Stock Exchange of Singapore
\n(SES).<\/p>\n
It said in a statement its initial public offering (IPO) would
\nbe lead managed by Overseas Union Bank Ltd.<\/p>\n
SSL, involved in feeder and regional container shipping and
\nthe transportation of liquid and gas cargo in Asia, is part of
\nthe Samudera Indonesian Group.<\/p>\n
It intends to use the proceeds from the IPO to expand its
\nfleet of oil tankers and vessels, repay part of the bank
\nborrowings and fund its expansion and diversification plans.<\/p>\n
SSL has a fleet of 21 owned and chartered container vessels as
\nwell as four chemical tankers ranging from 2,200 deadweight ton
\n(dwt) to 7,700 dwt.<\/p>\n
Its net profit in fiscal 1996 was Singapore $9.98 million
\ncompared to S$0.97 million in fiscal year 1994 while turnover
\nquadrupled to about Singapore $194.5 million compared to S$45.9
\nmillion during the same period.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/samudera-to-float-shares-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}