Jessica Miller | November 20, 2012
Cigarette maker PT Wismilak Inti Makmur declared that it will sell up to 30 per cent of the company’s enlarged shares during an initial public offering (IPO) next month to increase funds for business expansion. “Shares of Wismilak are to be priced between Rp 575 and Rp 800 apiece,” Iman Rahman, PT Mandiri Sekuritas director, reported in Jakarta on Monday, adding that the price-earnings (PE) ratio of the shares would reach between 10 and 14 by 2013. If the PE estimate holds true, the company might increase between Rp 362.2 billion (US$37.6 million) and Rp 503.9 billion from the sale of 629.96 million enlarged shares to the public. Wismilak has named PT Mandiri Sekuritas and PT OSK Nusadana Securities Indonesia as the underwriters of its IPO.
Category: Cigarettes Business, Tobacco Company |
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Tags: cigarettes sales, Tobacco Company
Jessica Miller | October 8, 2012
Most cotton farmers in Mashonaland Central province have switched to tobacco production because of the low costs offered for the crop on the tobacco market this season. The growers have started constructing curing barns and others have already established seedbeds. At the same time the tobacco farmers are afraid of losing their property to cotton companies after failing to settle their debts. Most farmers told The Herald that they could not pay back loans to companies that contracted them and have since been given an October 30 deadline to settle their debts before the firms come in to join their property.
Category: Cigarettes Business, tobacco products, Tobacco Sales, Tobacco Worker |
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Tags: tobacco farmers, tobacco market
Jessica Miller | September 17, 2012
Experts in south China’s Yunnan province, where a recent earthquake required at least 81 lives, now plan to sell 400,000 cartons of cigs in order to increase tax income to spend on quake relief, a Chinese daily argued. According to the state-run Global Times daily, China has become the world’s largest cigarettes manufacturer and tobacco consumer, with more than 300 million smokers. It is considered that deaths in China from smoking habit will exceed three million annually by 2050.
Category: American Cigarettes, Cigarettes Business |
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Tags: cigarettes tax, tobacco consumers
Jessica Miller | September 13, 2012
Philip Morris International Inc. PM -1.93% has increased its quarterly profits by 10 percents as the tobacco heavyweight looks to raise stockholder returns. The eight cent increase brings the tobacco company’s dividend a sum to 85 cents a share. The increase will cost Philip Morris $134.9 million more a quarter. The dividend carries a yield of 3.8 percent based on Tuesday’s closing cost. Dividend yields and strong cash flows drew investors to tobacco companies last year.
Category: American Tobacco Company, Cigarettes Business |
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Tags: philip morris profits, tobacco market
Jessica Miller | September 10, 2012
Category: anti-smoking regulation, Cigarettes Business |
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Tags: smoke-free Delhi, smoking ban
Cigarette maker PT Wismilak Inti Makmur declared that it will sell up to 30 per cent of the company’s enlarged shares during an initial public offering (IPO) next month to increase funds for business expansion. “Shares of Wismilak are to be priced between Rp 575 and Rp 800 apiece,” Iman Rahman, PT Mandiri Sekuritas director, reported in Jakarta on Monday, adding that the price-earnings (PE) ratio of the shares would reach between 10 and 14 by 2013. If the PE estimate holds true, the company might increase between Rp 362.2 billion (US$37.6 million) and Rp 503.9 billion from the sale of 629.96 million enlarged shares to the public. Wismilak has named PT Mandiri Sekuritas and PT OSK Nusadana Securities Indonesia as the underwriters of its IPO.
