JAKARTA - PT Humpuss Maritim Internasional Tbk (HUMI) is allocating 90% of the proceeds of its initial public offering (IPO) to reinforce its subsidiaries, including funding the working capital and capital expenditure (capex).

Based on the prospectus quoted today (9/8), the issuer expects IDR 270.70 billion of fresh funds during its IPO that had been held from August 2 to 7, 2023. The proceeds resulted from the offering of 2.70 billion shares for IDR 100 each. Then, 10% of the total proceeds, amounting to IDR 27.7 billion, is set aside for its own working capital, while another 90% or IDR 243.63 billion will be allocated for its subsidiaries’ growth.

HUMI’s subsidiaries in question are PT PCS Internasional, which will utilise extra capital to purchase vessels and increase working capital, PT OTS Internasional that will increase its working capital, PT Humpuss Transportasi Curah that will acquire more vessels and improve working capital, as well as PT MCS Internasional and PT ETSI Hutama Maritim, both of which will enhance their respective working capital.

Prior to IPO, HUMI’s authorised capital was at IDR 6.13 trillion, while its issued and paid-up capital was IDR 1.53 trillion. The shareholder structure consisted of PT Humpuss Intermoda Transportasi Tbk (HITS) of 89.99%, PT Humpuss Transportasi Kimia (HTK) of 10%, and Koperasi Karyawan Bhakti Samudera (KKBS) and 0.002%. The stock in portfolio was worth IDR 4.60 trillion. Post-IPO, the structure will change to HITS of 71.99%, HTK of 8%, KKBS of 0.002%, and the public of 15%. The stock in its portfolio will shrink to IDR 4.31 trillion. (LK/ZH)