PSSI obtains the approval to conduct a private placement

16 September 2019 13:43

JAKARTA. PT Pelita Samudera Shipping Tbk (PSSI) received approval from its Extraordinary General Meeting of Shareholders (EGM) held on Monday (16/9) today, to conduct a private placement. The funds from the private placement will be used to purchase a new ship. 

Iriawan Ibarat, President Director of PSSI, said that the new fleet unit to be purchased is a handysize-class Mother Vessel (MV) at a price of US$ 7.53 million. "The ship to be purchased is a Japanese ship made in 2009," said Ibarat when met by idnfinancials.com on Monday (16/9) today in Jakarta.

PSSI will purchase the ship from Convivial Navigation Co. Pte. Ltd. from Singapore. For the payment scheme, PSSI will pay 20% of the price (US$ 1.51 million) in cash. While the remaining 80% (US$ 6.02 million) will be paid in shares.

PSSI proposes that the price of the new shares issued in this private placement to be set at Rp 211 per share. But this price is still being discussed with Convivial Navigation.

For information, the MV has a capacity of 28 thousand deadweight tons (dwt). The company intends to use this ship to transport coal and clinker (main material for making cement). (KR/AR)

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