Revenue of IKT was strong in 2017, exceeding IDR 200 billion (approx. USD $15 million). Besides financial management, the company's corporate management is also strong and therefore Syeried Jetta is positive about the IPO. IKT is expected to offer a 30 percent stake to the public. However, at this moment the management declines to mention the targeted amount of funds it wants to raise through the IPO.

IKT has three business lines: (1) stevedore (loading and unloading ships), (2) cargodore, and (3) receiving & delivering of cargo. The company, which operates in Jakarta's Tanjung Priok port (Indonesia's busiest port), is specialized in the transportation of vehicles, such as cars, trucks and heavy equipment.

Late last year another subsidiary of Pelindo II went public on the Indonesia Stock Exchange: maritime services company Jasa Armada Indonesia (also known as IPC Marine). Since its trading debut the company's shares have risen more than 10 percent.

Read more: IPO News Indonesia: Jasa Armada Indonesia Makes Trading Debut

A third subsidiary of Pelindo II, Pelabuhan Tanjung Priok (PTP), is scheduled to conduct an IPO in the second half of 2018. It is currently being studied whether the unit is indeed fit to list on the Indonesia Stock Exchange. In terms of revenue, this unit is much bigger than IKT, Syeried Jetta said.

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