JAKARTA – PT Bintang Samudera Mandiri Lines Tbk (BSML) secures fresh funds of IDR 43 billion via its initial public offering (IPO) of 370,045,000 shares of IDR 117 each. This corporate action was initiated last week (9/12) and ended yesterday (14/12). The recording on the stock exchange will take place today (16/12).
In the press release quoted Thursday (16/12), David Desanan Winowood, President Director of Bintang Samudera Mandiri Lines, believed that IPO would boost the company’s capitalisation and strengthen it to explore the potentials of the sea freight business. “As other shipping services, the company will become the reliable partner to provide cargo transportation services for industrial goods in various regions,” he added.
Then, 74.62% of the IPO proceeds would be channelled to its working capital, funding ship charters, sea freight, and agency services. Another 12.69% would be lent to PT Bintang Samudera Mandiri Persada, its subsidiary, while another 12.69% would be used to pay a portion of debts towards PT Bank Mandiri (Persero) Tbk (BMRI). (LK/ZH)