Jakarta - PT Hasnur Internasional Shipping Tbk (HAIS) received funds reaching Rp157.57 billion through the company's initial public offering (IPO).

In this corporate action, the company released 525.25 million shares to the public or 20% of the paid-in capital with an initial offering price of Rp300 per share.

Operations Director of Hasnur Internasional Shipping Soma Ariyaka said that the funds from the IPO would be used for the business development of the company and its subsidiaries, all of which are engaged in the business of sea transportation and port services.

"46% of the IPO proceeds will be used for capital expenditures, namely buying three sets of ships and barges, with an indicated price of Rp150 billion. If the 46% of the IPO proceeds are not sufficient to fund the purchase of three vessels and barges, the shortfall will be using third party funds which will be used after the IPO," he said in a statement on  Wednesday (1/9)