Indonesian shipbuilder Steadfast Marine is planning an IPO to finance expansion.
Underwriter Jasa Utama Capital Sekuritas told local media it will sell 35% of its equity for IDR 40bn ($2.9m) in Jakarta.
The company was founded in 2005 and has built 88 ships.
It specialises in anchor-handlers, dredgers, crew boats and tugs.
Steadfast Marine is constructing 13 vessels for the transport ministry currently.
