Sep 2, 2010

Minna Padi could own Pan Brothers

PT Minna Padi Aset Manajemen has rights to buy new shares potentially to be issued by publicly listed textile manufacturer PT Pan Brothers Tbk (PBRX).
The rights is one of conditions provided by zero coupon convertible bond (CB) worth Rp50 billion issued by Pan Brothers to Minna Padi.
Pan Brothers Director Fitri Ratnasari Hartono, in an formal announcement to Indonesia Stock Exchange (IDX), said Pan Brothers could pay CB in the next 5 years.
If the company were unable to pay the CB, it had to hold preemptive rights issue. Pan Brothers will use the CB proceed to strengthen its cash position and bankroll machine purchase.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: