Indonesia
PT Pelayaran INDX Lines conducted an Initial Public Offering (IPO) in 2001 and raised funds of Rp. 15 billion. In May 2009, the company issued 147.198.000 shares and 42.932.750 warrants through a Restricted Offer (PUT I), which were used to acquire Radikal Rancak Sendirian Berhad (RRSB) and develop maritime transportation and logistics services by purchasing vessels directly or indirectly through subsidiaries. In January 2010, the company underwent quasi-reorganization to eliminate its negative balance sheet by reducing the nominal share value from Rp 250 to Rp 50 effective April 5, 2010, with approval from the Minister of Law and Human Rights. PT Pelayaran INDX Lines established a subsidiary, PT Pelayaran INDX Lines (PIL), focusing on domestic shipping services. In December 2010, PIL acquired a barge and in December 2011, it purchased a Coal Trans-loader Barge. Both vessels have been fu
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