Oct 25, 2011

Visi Media puts more warrants via IPO

PT Visi Media Asia Tbk, parent company of TVOne and Vivanews, that is partly owned by Bakrie family, has enlarged warrant issuance almost double to 1.01 billion warrants from 571.5 billion. It also has risen the IPO price to Rp280-Rp305 per share from initial plan of Rp260-Rp285 per share.
Both strategies are expected to help raising the IPO proceed to Rp1 trillion. "The additional warrants are intended to anticipate upcoming financing needs," said Vicky Ganda Saputra, Director of PT Danatama Makmur, as quoted by Kontan daily today. Danatama is the Visi Media's IPO underwriter.
The first warrants issuance will be set within the range of Rp300-Rp310. The book building has been starting since October 18 to October 28 2011.

Disclosure: No position at the stock mentioned above.  

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