PT Pelayaran Jaya Hidup Baru Tbk. (PJHB) has officially been listed on the Indonesia Stock Exchange (IDX) through its Initial Public Offering (IPO), becoming the 24th listed company on the exchange in 2025.

In this corporate action, PJHB issued 480,000,000 new shares, representing 25% of its issued and fully paid-up capital, with a nominal value of Rp50 per share. The offering price was set at Rp330 per share.

For this IPO, PT Pilarmas Investindo Sekuritas acted as the underwriter. On its debut trading day, PJHB’s stock price surged by 24.8% to Rp412 per share, reaching its highest price of the day.

Alongside the IPO, PJHB also issued 240,000,000 Series I Warrants, attached to the new shares, with an issuance ratio of 2:1. This means that every two new shares entitle the holder to receive one Series I Warrant.

Each Series I Warrant grants the holder the right to purchase one new PJHB share at an exercise price of Rp330 per share. Should all warrants be exercised, the company could potentially raise an additional Rp79.2 billion, which will be allocated as working capital to support the operation of new vessels.

From a financial standpoint, PJHB aims for a significant performance improvement, with revenues projected to reach approximately Rp144 billion within the next five years, nearly tripling its 2024 figures. Likewise, net profit is also expected to increase threefold over the same period.

PJHB President Director, Ms. Go Sioe Bie, stated that the decision to go public was a strategic move to strengthen the company’s funding structure and accelerate its business expansion plans.

“All funds raised from the IPO, after deducting issuance costs, will be used as capital expenditure to build three new LCT-type vessels with a capacity of 2,500 DWT. The construction of these ships is part of the company’s long-term strategy to expand its fleet capacity and meet the increasing demand for heavy equipment and container transportation from our clients,” she explained on Thursday (November 6).

Of the total construction cost, approximately 94.11% or Rp153.4 billion will come from IPO proceeds, while the remaining 5.89% or Rp9.6 billion will be funded from the company’s internal cash.

Furthermore, funds generated from the exercise of Series I Warrants will serve as additional working capital to support the operation of new vessels and enhance the company’s overall operational capacity.

She added that PJHB’s listing on the IDX marks an important milestone in expanding the company’s access to funding, strengthening corporate governance and transparency, and enhancing competitiveness in the national shipping industry.

“We hope that PJHB’s presence on the Indonesia Stock Exchange will create opportunities for the public to participate in the company’s ownership. We also aspire to become a national shipping company that grows sustainably and remains focused on delivering added value to our shareholders,” she concluded.