Feb 11, 2011

Viva Media names 2 IPO underwriters

PT Viva Media Baru that supervises several media such as TV One, Antv, and Vivanews have appointed PT Danatama Makmur and PT Ciptadana Securities to handle the initial public offering (IPO).
A source who knew the plan as quoted by Bisnis.com today, said that the media company that affiliated with Bakrie Group plans to dispose 20%-30% shares to the market.
“Two securities companies namely Danatama and Ciptadana have been appointed to handle Viva Media Baru’s IPO. The company plans to dispose its shares to the market soon,” he said.
The source added that the company will add its capital by disposing its shares to the market in order to finance the business expansion.
Director of Danatama Makmur Steffen Fang when confirmed about the information said that Danatama is summoned by the board director of Viva Media Baru to handle the IPO.
“Yet, I don’t know the details about the IPO plan. I only heard that Danatama is summoned to assist Viva Media Baru’s IPO,” he said this afternoon.
The IPO listing of Viva Media Baru actually start to appear some time ago. At that time, the IPO of TV One was widely circulated.
If the plan is implemented, it will add to the list of companies that will be listed on the Indonesia Stock Exchange (IDX).
IDX previously estimated in the first quarter of 2011 there were 10 companies that listed the IPO.
IDX Director of Company Valuation Eddy Sugito said the request to hold IPO is being processed for further review in the IPO implementation.
"In our pipeline, there are 9 to 10 companies that already entered into IDX. It could be conducted on first quarter if it runs well,” he said.

Disclosure: No position at the stock mentioned above.  

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