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Indonesia's Trada Maritime heads to the local bourse

Indonesia's Trada Maritime heads to the local bourse

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]

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