Equity holders including Singapore-listed shipbuilder andowner ASL Marine have raised IDR 41.7bn ($3.5m) from the sale of just over 208million shares.
Following the completion of the IPO, ASL’s holding inCapitol has fallen to 27% from 36%.
The listing heralds a change in focus for the company fromtugs and barges to the Indonesian offshore sector.
Capitol is targeting the addition of one anchor handling tugsupply with the proceeds of the floatation.
