JAKARTA. PT Net Visi Media Tbk (NETV), a parent company of PT Net Mediatama Televisi (NET TV), launches its Initial Public Offering (IPO) of 765.3 million shares to collect at most IDR 149.9 billion.
The entire shares issued in IPO equal 4.73% of NETV’s total issued and paid-up capital. The face value of each share is IDR 100, but they will be offered for IDR 190-196 per unit.
Approximately 18.5% of the IPO proceeds will be spared as the working capital, following the statement in the published prospectus. Then, another 53% would be allocated to the capital investment of NET TV, which will be spent on covering some of the syndicated loans. The remaining 28.5% would be utilised as capital investment placed in PT Net Media Digital.
The public offering period spans from January 18 to 21, 2022. Then, the electronic distribution is set to January 24, 2022, while the Indonesia Stock Exchange (IDX) listing follows on January 25, 2022.
NETV appoints PT NH Korindo Sekuritas Indonesia as the executive underwriter, while the underwriter would be announced later.
As of December 27, 2021, PT Sinergi Lintas Media was still recorded as the controlling shareholder of NETV, owning 99.99% of the shares. The small remaining portion was left to PT Indika Inti Holdiko. (KR/ZH)