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PSAT Plans To List On The IDX, Releasing 222.353 Million Shares

PT Pancaran Samudera Transport Tbk (PSAT) plans to list on the Indonesia Stock Exchange by releasing 222.353 million shares, which represents a maximum of 15 percent of the total issued capital.

The company has set the price for its initial public offering (IPO) at Rp850-Rp900, which means it could raise as much as Rp200 billion in fresh funds.

"Currently, the company aims to offer a competitive share price that is attractive to investors wishing to participate in the IPO of Pancaran Samudera Transport," stated PSAT's Chief Financial Officer Wendi Arifin during the press conference for the Initial Public Offering of PT Pancaran Samudera Transport Tbk, as reported in Jakarta on Wednesday.

Additionally, the company is implementing an Employee Stock Allocation (ESA) program, allocating up to 555,000 shares, which amounts to a maximum of 0.249 percent of the total shares offered in the Initial Public Offering. The ESA program has been established based on Deed No. 27 dated March 7, 2025.

In this corporate action, the company has appointed PT Trimegah Sekuritas Indonesia Tbk as the Underwriter for the Securities Issuance.

The President Director of PT Pancaran Samudera Transport Tbk (PSAT), Susanto, expressed confidence that this is the right time to enter the Indonesian Stock Exchange. Moreover, the shipping and coal transportation industry is said to have very positive prospects due to the increasing energy demand in both the domestic and export markets.

The demand for coal, particularly for Steam Power Plants (PLTU), continues to show an upward trend. This drives the high need for reliable and efficient sea transportation services, making the transition to a public company a commitment to remain present for our partners.

Domestic demand is also projected to rise by 2025, as reflected in the potential increase of the Domestic Market Obligation (DMO) for coal, which is estimated to reach 229.3 million tons, a 4.05 percent increase compared to the 2024 DMO target of 220 million tons. This surge reflects the growing national energy needs, thus providing significant opportunities for shipping companies to enhance transportation volumes for both domestic distribution and exports.

According to a report from the Ministry of Energy and Mineral Resources (ESDM), national coal production in 2024 is expected to reach 830.96 million tons, far exceeding the initial target of 710 million tons. Of this total, approximately 433.17 million tons will be exported to various countries, while 377.85 million tons will be absorbed by the domestic market.

"With the large scale of production and distribution, maritime transport plays a crucial role in maintaining the smooth supply chain of Indonesian coal. This is increasingly important given the concentration of coal mines located in Sumatra and Kalimantan, which geographically necessitates shipping via sea routes," said Susanto in an official statement.

Regulations concerning maritime safety and environmental protection are becoming increasingly stringent.

Companies that can implement high HSE (Health, Safety, and Environment) standards are expected to gain a greater competitive advantage. The company ensures that high safety and operational standards can enhance customer trust and ensure more sustainable operations.

"Overall, with the rising demand for coal, high production targets, significant investments in port infrastructure, and compliance with HSE standards, the Company has very positive business prospects. The Company will be able to seize this opportunity to expand its market, improve operational efficiency, and strengthen its position in the shipping and coal transportation industry," he stated.

The funds obtained from this Initial Public Offering, after deducting all issuance costs, will be allocated for several purposes. A total of Rp175 billion will be used to make a capital contribution to the Company's Subsidiary, PT Pancaran Karya Shipping (PKS), in the form of equity, amounting to a maximum of 175 thousand new shares to be issued by PKS.

Furthermore, the funds raised from the issuance of new shares will be utilized by PKS to purchase two bulk carrier vessels aimed at strengthening the fleet for the Company's projects. The plan to purchase these bulk carriers is based on the Ship Sale and Purchase Agreement between PT Pancaran Maritim Transportindo (PMT) and PKS. PMT is an affiliated party with the Company.

The remaining funds will be used for the Company's working capital needs, specifically for ship fuel.

Estimated Schedule

Initial Offering Period: June 23 – 25, 2025

Estimated Effective Date: June 30, 2025

Estimated Period for Initial Public Offering of Shares: July 2 – 4, 2025

Estimated Allocation Date: July 4, 2025

Estimated Date for Electronic Distribution of Shares: July 7, 2025

Estimated Listing Date on the Indonesia Stock Exchange: July 8, 2025

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Tag: Initial Public Offering Pancaran Samudera Transport PSAT