JAKARTA, NNC – PT Indonesia Kendaraan Terminal Tbk (IKT or the Company) will offer a maximum of 561,101,600 shares or 30 percent of the total issued and paid-up capital of the Company, through the Initial Public Offering (IPO).
IKT, also known as IPC Car Terminal appointed Joint Lead Underwriters (JLU), namely PT Bahana Sekuritas and PT Mandiri Sekuritas. Meanwhile RHB acts as an International Selling Agent.
According to plan, the bookbuilding takes place on May 24, 2018 until June 22 2018. The IPO pricing is expected on June 25, 2018, while the initial shares listing in Indonesia Stock Exchange (IDX) is scheduled on July 10, 2018.
President Director of IPC Car Terminal Chiefy Adi Kusmargono explained that the company will allocate 50 percent of the IPO proceeds for capital expenditure (capex), 25 percent for land lease extension. "All the rest for working capital," he said in a written statement on Sunday (5/27/2018).
IKT is a company that manages commercially operated terminals to provide vehicle terminal services. The services include Stevedoring, Cargodoring, Receiving, and Delivery. It also serves other services, namely Vehicle Processing Center (VPC) and Equipment Processing Center (EPC).
IKT was established as a separate business entity on November 5, 2012 with 99 percent share ownership of PT Pelindo II (Persero) and PT Multi Terminal Indonesia with one percent.
Before becoming its own business entity, IKT was only a strategic business unit called Tanjung Priok Car Terminal (TPT), which is managed under the Head Office and operated since June 2007.
IKT has several advantages, among them the only company that runs a commercial terminal that provides vehicle terminal services in the 4th most populous country in the world, owns 100 percent captive market, and high business margin.
In addition, the company has a fast growing market, solid client base, secure land tenure and well-planned expansion, and a highly experienced management team.
To note, Indonesia is the country with the 17th largest car sales in the world and the number one in ASEAN. In production, Indonesia is the 18th largest in the world and number two in ASEAN. The growth of car production in Indonesia on an annual basis reached 11.4 percent during 2007-2017.
IKT provides terminals prepared not only for cars, but heavy equipment, trucks, buses, and spare parts. The Company manages a land area of 31 hectares with a capacity of 700,000 units of vehicles per year.
Chiefy added that, as planned, by 2022, the company targets 89.5 hectare land management area with a capacity of 2.1 million vehicles. "Thus, the company is projected to be the 5th largest car terminal operator in the world," he said.