Pan Pacific cancels seeking approval for rights issue

JAKARTA: PT Pan Pacific International Tbk canceled an agenda in the extraordinary meeting of shareholders (RUPSLB) to ask approval for capital increase through pre-emptive rights issue.Unfortunately, the financial company did not detail out the reason
News Editor | 06 Desember 2010 12:19 WIB

JAKARTA: PT Pan Pacific International Tbk canceled an agenda in the extraordinary meeting of shareholders (RUPSLB) to ask approval for capital increase through pre-emptive rights issue.Unfortunately, the financial company did not detail out the reason for the cancellation, the disclosure submitted to Indonesia Stock Exchange (IDX) said.Initially, the publicly-listed investment company planned to add capital through a rights issue to IDR100 billion-IDR500 billion by early next year.Previously, the plan was included in the agenda of extraordinary meeting of shareholders scheduled on January 7. Moreover, as quoted from official site of PT Kustodian Sentral Efek Indonesia (KSEI) last week, the company has no other agenda besides requesting approval for the rights issue plan.The company whose subsidiaries cover securities, investment management, and financing sectors, as per third quarter of 2010 booked a 222.29% growth in revenue to IDR39.64 billion from IDR12.29 billion in the same period of last year.This afternoon, the APIC-coded shares were closed down by 15.28% or IDR55 to IDR305 and created a quite low market capitalization of IDR42.71 billion. (T01/NOM)

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Editor : Muhammad Fariz Aulia

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