JAKARTA (Yosefardi) – Garment manufacturer PT Pan Brothers Tbk (PBRX) targets its sales to grow by 40% next year along with the operation of its new plants operated by its unit PT Eco Smart Garmen.
The company targets to book revenue of US$325 million this year. It plans to build 7 new plants until 2016, to add production capacity of 30 million pieces of cloth per year.
PBRX plans to issue 3.39 billion new shares through pre-emptive rights scheme, representing 52.38% of its enlarged capital. The exercise price is set at Rp300, to raise total proceeds of Rp1.02 trillion, used to boost production capacity of unit PT Eco Smart Garment Indonesia (60%), to invest in upstream and downstream sectors (30%), and for working capital (10%).