Global Mediacom, the owner of Indonesian satellite pay-TV provider MNC Sky Vision, is reinitiating plans to raise up to US$400m in an IPO, according to media reports citing sources close to the matter.
US private equity firm Saban Capital Group is…
Global Mediacom, the owner of Indonesian satellite pay-TV provider MNC Sky Vision, is reinitiating plans to raise up to US$400m in an IPO, according to media reports citing sources close to the matter.
US private equity firm Saban Capital Group is rumoured to be among the interested buyers and could take a significant stake in the listing of 20-30% of the company.
The IPO may reportedly take place in June this year and value Sky Vision at more than US$1bn.
Sky Vision could not be contacted at the time of going to press.
UBS and Morgan Stanley have previously been named as the potential underwriters for the offering.
Global Mediacom first announced its intention to list the pay-TV company in February last year in order to raise funds for expansion. However, in October the plan was put on hold due to alleged concerns over pricing amid volatile markets.
Global Mediacom’s CEO Hary Tanoesoedibjo had been quoted saying at the time that an IPO was not the only envisaged option for Sky Vision. A strategic sale was also on the cards.
Sky Vision is Indonesia’s largest satellite pay-TV provider and operates via two platforms, Indovision and Top TV. The country is currently populated with six such platforms: Indovision; Top TV; Telkom Vision (owned by state-owned telco Telkom); Aora; Okevision; and Skynindo.
