Humpuss starts IPO

Mon, 01 Dec 1997, 00:00 WIB | Source: JP

Humpuss starts IPO

JAKARTA (JP): PT Humpuss Intermoda Transportation begins the
public sale of its shares today.

In a statement the company said that it was offering around 74
million shares to the public at Rp 675 (18,5 U.S. cents) per
share during the initial public offering (IPO) period, which
lasts until Wednesday.

The statement said that around 45 percent of the proceeds from
the offering would be used to increase the company's stake in
subsidiary PT Humpuss Terminal Petikemas, 40 percent to build
three new oil tankers and the remaining 15 percent would be used
to increase the company's working capital.

The company said that it would list its shares on the Jakarta
Stock Exchange on Dec 15. (aly)

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