Mar 2, 2011

MNC Sky appoints UBS, Morgan Stanley

Paid TV operator PT MNC Sky Vision (MSV) has mandated two stellar investment banks UBS Securities and Morgan Stanley Securities Indonesia as lead underwriters of initial public offering scheduled in the third quarter of this year.
"Indovision as brand of MNC Sky Vision will dispose 25%-30% during IPO," said CEO Global Mediacom Hary Tanoesoedibjo today.
According to him, the proceed will be used by MNC to strengthen transmission of television network which will be transformed into MPEG4 video on demand net work. "We require US$50 million of investment."
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.
Hary said MSV targets to grab 850,000 subscribers and expects to add 25,000-30,000 new subscribers per month, driving audience market share to 38% this year from 43% last year. 

Disclosure: No position at the stock mentioned above.  

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