JAKARTA - PT Primarajuli Sukses (PRS), a subsidiary of PT Ever Shine Tex Tbk (ESTI), will convert its debt to equity (debt-to-equity swap) worth USD 15.10 million.

Erline Lindawati S., Director of ESTI, said that this debt-to-equity swap will raise its stock portion. The company now claims 99.9% of PRS, a nylon thread manufacturer for woven and knitted fabric.

The production capacity of said synthetic woven fabric clocks up to 36 million yards, and the capacity of knitted fabric production reaches 1,800 tons.

As of now, ESTI’s authorised capital was recorded at IDR 300 billion, while the issued and paid-up capital was at IDR 201.52 billion. The shareholder structure consists of PT Cahaya Interkontinental of 91.21% and the public of 8.79%.

Meanwhile, PRS has authorised capital of IDR 1 billion, as well as issued and paid-up capital of IDR 275.38 billion. ESTI has 99.99% of the shares, and PT Cahaya Interkontinental claims another 0.003%. (LK/ZH)