PT MNC Skyvision restarts IPO plan

PT MNC Skyvision, Indonesia’s largest pay-TV provider, has reinitiated a plan to raise $300-$400 million via an initial public offering in June to take advantage of rising consumer spending in Southeast Asia’s biggest economy.

The company, a unit of media group PT Global Mediacom , plans to sell a 20-30 per cent stake to the public while several anchor investors, including USprivate equity firm Saban Capital Group, have expressed interest in buying a significant stake in the IPO, according to reports.

MNC Skyvision is Indonesia’s market leader in satellite pay TV with a 78 per cent market share from its two brands Indovision and Top TV. The pay-TV provider has more than 850,000 subscribers in the first quarter of 2011 and said it expected to reach 1.1 million subscribers by the end of that year.

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