JAKARTA. PT Transcoal Pacific Tbk (TCPI), a shipping company, gears up towards a dual listing. It will make its debut in the United States by issuing new shares, capped at 10% of its paid-up capital.
TCPI is now under the process of writing a contract with one of the underwriters in the US. The contract value is yet to be specified.
In the information disclosure yesterday (9/11), Denry Raymond Lelo, President Director of TCPI, explained that should this transaction be conducted according to the initial plan, it will generate positive results for the company. The company will gain fresh funds from this dual listing, which will then may be utilised to support operational activities of the company.
Lelo further mentioned that this transaction may result in positive outcome for TCPI’s financial condition as there will be additional proceeds, which will be secured from issuing investment instruments that will be well-received in the US capital market. (AM/ZH)