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.
Jessica Miller | July 19, 2012
Chinese people smoked more cigs and tobacco in the first half of this year, helping the tobacco company’s income to rise very quickly in spite of the current state economy decrease, according to data from the State Tobacco Monopoly Administration (STMA) on Wednesday. China’s cigarettes sales in the first six months increased 2.81 per cent from a year ago to 1.31 trillion cigs, while production rose 1.3 trillion cigs, making China the world’s biggest tobacco maker and consumer, according to the STMA.
Jessica Miller | March 6, 2012
State legislators last month approved $260,000 for the Nevada Taxation Department to hire a team of auditors to track cigarette sales by smaller tobacco corporations who were not participants in the 1998 national tobacco lawsuit settlement. Under that settlement, negotiated between several state attorneys general and the major tobacco corporations, payments are made to state governments to cover Medicaid and other costs caused by tobacco-related illnesses and paid for by taxpayers. Nevada was one of the last states to join the lawsuits.
Jessica Miller | June 9, 2011
The Renault Formu-la One team has been cleared to race in its black-and-gold colours in Sunday’s Canadian Grand Prix after fears that it would fall foul of antitobacco advertising laws. Principal Eric Boullier said in a statement that the Lotussponsored team, which has no connection with the tobacco industry, had contacted the Quebec authorities recently to discuss the livery and the legislation.
Jessica Miller | May 11, 2011
Imagine waking up one day and discovering the Government has taken over your brand. Not just that, they’ve effectively outlawed it. All those dollars spent building it. All those great ideas supporting it. And that’s not to mention your legally registered trademarks and intellectual properties. Banning Marlboro brands might sound far-fetched, even borderline Orwellian. But it’s happening.