PT ASDP Indonesia Ferry plans to list its initial shares (IPO) in the first quarter of 2022 with a target of obtaining funds of Rp3.25 trillion.

"The IPO plan is part of the company's long-term investment plan. Therefore, it is hoped that the company can obtain cheaper and more efficient funding," said ASDP President Director Ira Puspadewi in a statement on Friday (23/7).

According to Ira, the IPO option is a more efficient fundraising option than banks because the company will need Rp6 trillion in funds in the next five years.

"In the next five years, we want to expand the route by acquiring crossing companies and increasing the number of ships," he said.

Meanwhile, ASDP's Director of Finance, Information Technology and Risk Management, Djunia Satriawan, said that the recovery condition during the COVID-19 recession was a momentum that ASDP could use to invest in business development.

"Based on the e