VIVAnews – PT Visi Media Asia, the holding company of ANTV, tvOne and VIVAnews.com news portal, is targeting to pocket Rp600 billion of funds from its initial public offering (IPO).
“We want to give local investors opportunities so that the general public benefits the most,” Visi Media Asia President Director Erick Thohir told VIVAnews.com in Jakarta, Monday, June 13, 2011.
Erick explained that the company’s activities take place in the country itself, so domestic investors have more opportunities compared to foreign investors.
The funds resulted from the IPO will be used for work capital and repaying the company’s debts. “We want the public to also have Visi Media Asia’s shares,” he said.
During the IPO process, Visi Media Asia has obtained a pre-effective statement from the Indonesia Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) on June 10, 2011.
Bapepam-LK’s Head of Real Sector Financial Assessment Bureau Gontor Ryantori Aziz explained that the process of Visi Media Asia’s IPO has been 80 percent completed.
Bapepam-LK, he said, has issued a pre-effective statement so as to allow the company to do the IPO. “With the pre-effective statement, 80 percent of Visi Media Asia’s IPO has been completed.”
According to him, after the pre-effective statement is issued, the company is eligible to announce the IPO process and explore the investors’ interest. When the process is completed, the company is to send a report to Bapepam LK. “Then the effective statement is issued,” said Gontor.
Visi Media Asia is one of the integrated media companies in Indonesia which focus on delivering news contents, providing contents especially sports and lifestyle through many platforms including free to air (FTA) television station, internet news portal and mobile phones.
The company will release 14.21 percent of its shares to the public, or as many as 2,286 shares. Forty percent of the funds out of the IPO will be used to repay some of its debts to Credit Suisse AG, amounting to US$54 million.
Meanwhile, another 40 percent will be used for business development capital expenditure and new investment for supporting the business of the company and its subsidiaries tvOne, ANTV and VIVAnews.com.
The remaining 20 percent is for the company’s and the subsidiaries’ capital work, including the company’s operational costs such as financial fees, employee salary, office rent and consultation service fee.
In the prospectus published by the company, the book building is from June 13 to 21, 2011. It is estimated that the effective statement will be available by June 28, 2011, so the IPO period would be on July 1, 4 and 5, 2011.
It is estimated that the stock allotment will be conducted on July 7, 2011 and the listing at Indonesia Stock Exchange July 11, 2011. The underwriters for this IPO process are PT Ciptadana Securities and PT Danatama Makmur.
Translated by Indah Lestari
Putri Anne Blak-blakan Belum Bisa Move On dari Arya Saloka?
Putri Anne mendapat pertanyaan dari pengguna instagram tentang tips untuk bisa move on.
