JAKARTA – PT Pelayaran Jaya Hidup Baru Tbk. (PJHB), a prominent sea transportation services provider specializing in heavy equipment and container logistics, has officially launched its Initial Public Offering (IPO). The company is offering 480 million shares to the public, representing 25% of its total registered shares on the Indonesia Stock Exchange (IDX), at an attractive price of Rp330 per share.
The IPO share subscription period is set to run from October 31 to November 4, 2025, following a successful bookbuilding process conducted between October 22 and October 27, 2025. PJHB solidified its offering price at the upper limit of the bookbuilding range, which spanned Rp310 to Rp330 per share. The share allocation is slated for completion on November 4, 2025, with distribution commencing the following day, November 5, 2025. The official listing date on the Indonesia Stock Exchange is scheduled for November 6, 2025, as confirmed by the IDX on Friday, October 31, 2025.
Further bolstering its public offering, PJHB has also issued warrants with a conversion ratio of 2:1 and an exercise price of Rp330. Pilarmas Investindo Sekuritas is taking on the crucial role of lead underwriter for this significant capital market initiative, guiding the company through its public debut.
Established in 2008 and strategically based in Samarinda, East Kalimantan, PJHB has built a strong reputation in the maritime sector. The company’s core operations involve providing both freight charter and time charter services, primarily utilizing specialized Landing Craft Tank (LCT) vessels. Currently, PJHB boasts a fleet of five LCTs, each capable of transporting substantial cargo loads ranging from 1,300 to 2,500 tons, ensuring robust heavy equipment transport and container logistics across the Indonesian archipelago.
Since its inception, PJHB has consistently served a diverse range of critical industries, including oil and gas, mining, plantations, industrial machinery, and power generation. Its extensive service network reaches key regions across Indonesia, encompassing Java, Kalimantan, Sulawesi, Nusa Tenggara, and Papua, highlighting its pivotal role in national maritime logistics and regional development.
PJHB’s financial health, as detailed in its preliminary prospectus, reveals impressive growth. Total assets for the IPO reached Rp164.6 billion as of April 30, 2025, marking a substantial increase from Rp89.5 billion recorded on December 31, 2025. This surge was primarily driven by non-current assets, which expanded significantly from Rp66.09 billion to Rp145.50 billion by April 2025, while current assets saw a slight decrease from Rp23.4 billion to Rp19.09 billion.
The company’s profitability also demonstrates a solid foundation. In 2024, PJHB reported revenues of Rp54.66 billion and a gross profit of Rp22.02 billion. After accounting for operating expenses and taxes, the net profit attributable to the parent entity stood at Rp17.22 billion. For the period ending April 30, 2025, PJHB continued its positive trajectory, recording revenues of Rp18.05 billion and a net profit of Rp5.8 billion, underscoring its consistent financial performance.
A cornerstone of PJHB’s operational strength, particularly as it steps into the public market, is its specialized fleet of five Landing Craft Tank (LCT) vessels. These LCT units are ingeniously designed for the efficient transport of heavy cargo and equipment, facilitating seamless transfers between larger ships and land. Characterized by their robust construction and operational flexibility, LCTs excel in shallow water environments. Their distinct advantage lies in their ability to dock directly on beaches, land, or conventional jetties, circumventing the need for specialized port infrastructure for loading and unloading operations, thereby enhancing logistical efficiency.
According to the prospectus, PJHB’s five LCTs each boast a carrying capacity ranging from 1,300 to 2,500 metric tons. The fleet includes LCT Cipta Jaya Harapan 7 (built in 2012), LCT Cipta Jaya Harapan 8 (2023), LCT Cipta Jaya Harapan 9 (2010), LCT Cipta Jaya Harapan 10 (2010), and LCT Lien Star 88 (2009). These vessels are instrumental in the inter-port transport of heavy equipment, industrial machinery, and containers across domestic routes. Looking ahead, PJHB plans to strategically expand its fleet by acquiring three new vessels, utilizing proceeds from the IPO to further enhance its capacity and optimize the efficiency of its vital sea logistics services.
Demonstrating a strong commitment to shareholder value, PJHB has maintained a consistent dividend policy, distributing both cash and stock dividends from 2022 to 2025. The most substantial distribution occurred on February 4, 2025, with a stock dividend worth Rp70.5 billion, equivalent to Rp53.31 per share. This was followed by a cash dividend of Rp17 billion on March 5, 2025. Earlier distributions include cash dividends of Rp8 billion in December 2024 and Rp2 billion in December 2022, underscoring PJHB’s dedication to returning value to its investors.
Summary
PT Pelayaran Jaya Hidup Baru Tbk. (PJHB) has set its Initial Public Offering (IPO) price at Rp330 per share, offering 480 million shares, or 25% of its total, on the Indonesia Stock Exchange. The share subscription period is from October 31 to November 4, 2025, with official listing scheduled for November 6, 2025. Additionally, PJHB has issued warrants with a 2:1 conversion ratio and an exercise price of Rp330, with Pilarmas Investindo Sekuritas acting as the lead underwriter.
PJHB, a sea transportation provider, specializes in heavy equipment and container logistics, operating a fleet of five Landing Craft Tank (LCT) vessels across Indonesia. The company reported total assets of Rp164.6 billion as of April 2025 and a net profit of Rp17.22 billion in 2024, demonstrating strong financial performance. Proceeds from the IPO will be used to acquire three new vessels, further enhancing its operational capacity and consistent dividend distribution.