Jan 28, 2011

MNC Sky Vision aims to hold IPO

PT MNC Sky Vision, subsidiary of PT Global Mediacom Tbk owned by Harry Tanoesudibyo, plans to hold initial public offering (IPO) plan this year.
In its official statement to Indonesian Stock Indonesia (IDX) yesterday, the company that engaged in pay television industry will raise public fund to support its expansion plan.
MNC’s pay television networks that mostly known as Indovision and Top TV has successfully dominated the market more than 78% in Indonesia.
At the end of 2010, the subscribers of Indovision and Top TV has reached more than 800.000 subscribers and projected to continue increasing in line with the low penetration of networked TVs within the country up to now.
The company believes its listing in the IDX can be conducted this year, although it hasn’t yet appointed the underwriter for the IPO plan.
If the IPO plan is realized then the MNC business groups that will be traded in the market are PT Bhakti Investama Tbk, PT Media Nusantara Citra Tbk and PT Global Mediacom Tbk.

Disclosure: No position at the stock mentioned above. 

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