Ricky Putra to go public next month<\/p>\n
JAKARTA (JP): Garment company PT Ricky Putra Globalindo plans
\nto sell 60 million new shares, or 37.5 percent of enlarged
\nshares, to the public next month to strengthen the its operations
\nand repay loans.<\/p>\n
The company's marketing director, Tirtaheru Citra, said
\nyesterday it would float the shares on the Jakarta and Surabaya
\nstock exchanges next month.<\/p>\n
\"We expect to raise about Rp 50 billion from the initial
\npublic offering,\" Tirtaheru said.<\/p>\n
He said 17 percent of the funds would be used to strengthen
\nits distribution networks, 30 percent to repay loans, and the
\nremaining 53 percent for further expansion.<\/p>\n
PT Trimegah Securities will arrange the initial public
\noffering.<\/p>\n
Tirtaheru said although the garment industry was generally
\nfacing dim prospects, he was optimistic that Ricky, producer of
\nGT Man underwear and other products, still had a good future in
\nthe country.<\/p>\n
GT Man had a 35.4 percent market share in the sale of men's
\nunderwear in the country, he said.<\/p>\n
\"Men's underwear is a basic need, and is not seasonal, so we
\nare not worried about a drastic sales decline,\" he said.<\/p>\n
Tirtaheru said 72 percent of what the company produced was
\nunderwear.<\/p>\n
About 73 percent of products are sold domestically and the
\nremaining 27 percent are exported.<\/p>\n
The company's sales reached Rp 61.5 billion in the first half
\nof this year, with a net profit of Rp 6.2 billion.<\/p>\n
Ricky has five distribution subsidiaries in Sumatra and Java.
\n(das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ricky-putra-to-go-public-next-month-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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