Nov 21, 2011

Visi Media rises 33% on trading debut

Holding company of TVOne, ANTV, and, PT Visi Media Asia Tbk, has intiated its debut in the stock market today. The shares rose 33.33% to Rp400 from Rp300 a share, a minute after Visi Media listed its shares this morning.
During the debut, the shares reached Rp450 and Rp390, the highest and the lowest levels. Visi Media, the 20th publicly listed companies at Indonesia Stock Exchange, offloaded 1.67 billion shares, entitling the company with a Rp500 billion proceed. Visi Media will use the proceed to pay debt and develop its business.

Disclosure: No position at the stock mentioned above.

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