Jakarata: Indonesian shipping company PT Trada Maritime launched an initial public offering (IPO) Tuesday hoping to raise Rp500bn (US$54.5 million) in proceeds.
Proceeds from the IPO will be used to finance the purchase of three dry bulk vessels for coal transport with capacities of 75,000 to 86,000 DWT, a statement said.
The vessels will cost a total of US$160m, and the company will therefore require bank loans, the newspaper Jakarta Post said. [3/9/08]
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
