Soechi Lines IPO Price is Set at IDR550 per Share

The IPO price of Soechi Lines is set at IDR550/share, lower than the initial range of IDR600 – 800 per share. Nonetheless, with the issuance of 2.57bn shares (30%) Soechi Lines will receive IDR1.4trn from the IPO fund. The funds will be used to expand its armada and pay off debts. Soechi is also allocating capex of USD90m for 2015 capex that will be used to buy 2-3 new vessels so capacity will increase from 1.25m DWT to 1.5 DWT.