Tancho share issuance set<\/p>\n
JAKARTA (JP): PT Tancho Indonesia, a publicly listed producer
\nof cosmetics, perfumes and plastic goods, plans a share issuance
\nlater this month to raise funds to finance the construction of a
\nplastic package factory.<\/p>\n
The company said it expected to raise about Rp 78 billion
\n(about US$10 million) in cash from the sale of 78 million new
\nshares in the rights issue.<\/p>\n
About 80 percent of the proceeds from the public limited
\noffering would be used to finance the construction of the new
\nfactory, which is planned for a 5.4 hectare plot in the Cibitung
\nindustrial estate, West Java.<\/p>\n
The company said that shareholders, with one old share, were
\nentitled to buy one new share in the one-to-one right issue.<\/p>\n
At an annual shareholders meeting on Tuesday, the shareholders
\napproved the management's proposal to pay a cash dividend of Rp
\n400 per share, about 70 percent of the net earning per share.<\/p>\n
The company booked a 42.5 percent increase in sales last year
\nto total Rp 372.24 billion. Net profit increased nearly 95
\npercent to Rp 45.22 billion. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tancho-share-issuance-set-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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