Dec 1, 2010

Pan Brothers sets Rp4.2 trio revenue

Garment maker PT Pan Brothers Tbk (PBRX) is eyeing Rp3.9 trillion-Rp4.2 trillion revenue in 2011, representing a 200% growth from revenue target this year of Rp1.3 trillion-Rp1.4 trillion.
Pan Brothers Vice President Anne Patricia Sutanto said the company believes to reach the target by using proceed from second rights issue scheduled in January 2011.
"We aim to use the proceed for various purposes, including working capital and additional sewing machines. We also plan to move business to original design manufacturer from our current position as original equipment manufacturer," she said.
Pan Brothers intends to issue 445.44 million new shares at the range of Rp1,000-Rp1,575 per share, enabling the company to snap up Rp701.57 billion proceed. The company announces shareholders meeting scheduled on December 22.

Disclosure: No position at the stock mentioned above.  

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