Deals
This Stock Has Surged 3,100% in Just Four Months
- Indonesian company’s market cap has risen to about $1 billion
- Shipping services provider seeks to grow through acquisitions
Tanjung Priok Port is seen here in Jakarta, Indonesia on Monday, August 3, 2015.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
For Kardja Rahardjo, a 32-fold jump in his company’s shares in just four months, is all about more avenues of financing opening up for the Indonesian shipping services firm’s future acquisitions.
PT Pelayaran Tamarin Samudra is the top gainer among Indonesia’s 559 stocks this year, surging 3,091 percent since its initial share sale in May. The company, which counts China’s CNOOC Ltd. among its customers, is valued at about $1 billion, prompting at least four banks to line up to meet its financing needs, according to President Director Rahardjo.