Still Losing Money, Net Visi Media Offers Shares to the Public

PT Net Visi Media will offer shares to the public despite still experiencing losses. The prospectus shows the media company has been operating at a loss since 2018 until July 2021.

PT Net Visi Media is conducting an Initial Public Offering (IPO) of a maximum of 765.3 million new shares, representing 4.37% of the issued and fully paid-up capital after the public offering.

The nominal value of PT Net Visi Media shares is Rp 100 per share and is offered to the public at a price of Rp 190-196 per share. At this price, the parent company of Net TV has the potential to raise a maximum of Rp 14.99 billion in fresh funds.

PT Net Visi Media's revenue grew by 34.74% to Rp 282.94 billion by the end of July 2021 compared to the end of July 2020. Meanwhile, programming and broadcasting expenses increased by 20.98% to Rp 187.17 billion from January to July 2021 compared to the same period the previous year. As a result, the losses of Net TV's parent company decreased by 70% to Rp 120.35 billion.

PT Net Visi Media conducted its bookbuilding from December 27, 2021, to January 3, 2022. The public offering period is estimated to be from January 18-21, 2022. PT Net Visi Media shares are expected to be listed on the Indonesia Stock Exchange on January 25, 2022.