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PT Pelayaran Jaya Hidup Baru Tbk (PJHB) officially became the 24th listed company on the Indonesia Stock Exchange (IDX) in 2025. On its debut trading day, Thursday (Nov 6, 2025), PJHB’s share price surged 24.8% from the offering price of IDR 330 to IDR 412 per share.
Through its Initial Public Offering (IPO), the Samarinda-based shipping company released 480 million shares, equivalent to 25% of its paid-up capital, raising IDR 158.4 billion. The total listed shares reached 1.92 billion, bringing the company’s market capitalization to around IDR 633.6 billion.
Chairman Hero Gozali said the IPO proceeds will be used to expand fleet capacity, enhance shipping efficiency, and reach more industrial regions across Indonesia.
PJHB also issued 240 million Series I Warrants free of charge to new shareholders, with every two new shares entitling holders to one warrant. Each warrant can be exercised into one new share at IDR 330 between May 4 and November 4, 2026. If fully exercised, PJHB could gain an additional IDR 79.2 billion in capital.
The IPO was fully underwritten by PT Pilarmas Investindo Sekuritas. Net proceeds will be allocated to building three Landing Craft Tank (LCT) vessels to strengthen the company’s heavy equipment, container, and industrial logistics operations. The vessels will be built in collaboration with PT Untung Brawijaya Sejahtera and PT Adiluhung Saranasegara Indonesia, with total investment exceeding IDR 150 billion.
PJHB’s management emphasized that expanding the fleet is a strategic move to meet rising transport demand, especially in eastern Indonesia, where all current vessels are operating at full capacity.
The company’s positive outlook is supported by the government’s downstreaming initiatives and “sea toll” policy. According to the Ministry of Transportation, sea toll cargo volume jumped from 30 tons in 2015 to 851.7 tons in 2024, while the number of port calls grew from 11 to 109.
With the 2025 infrastructure budget reaching IDR 400.3 trillion (11% of the state budget) and Indonesia’s freight logistics market expected to grow at a 7.7% CAGR through 2028 (Technavio), PJHB aims to capitalize on the nation’s growing transport and infrastructure momentum.
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