Indonesia’s MNC Studios seeks to raise up to $71m via IPO

MNC Studios International, the media arm of Indonesian conglomerate MNC Group, is looking to raise $71.25 million in an initial public offering at the Indonesian Stock Exchange, the company has announced.

The company says in its prospectus that it plans to sell around 29.98 per cent of its stake, or 1.56 billion new shares, at a price range of 500-650 rupiah apiece.

It also said that the preliminary offer period will be held May 7 to March 17, while the public offering is expected to be held on May 30 to June 4, 2018. The company says its shares will be listed on the IDX by June 8.

The proceeds from the IPO will be used to fund the acquisition of new businesses, to pay off some debts and to finance the development of a Movie Land in West Java. The remaining funds will be used to set up a production house through an acquisition or joint venture with other parties.

“The acquisition or joint venture is done to raise the content production capacity in the future,” the company said.

MNC Studios’ business units include production house, advertising agency and talent management. The company is one of the country’s largest content producers, boasting up to 4,000 hours of content produced in the last year alone.

Apart from MNC Studios, MNC Group also owns another production house, Dubai-based MNC International Middle East Limited.

In the banking sector, the group has announced that it plans to acquire a local bank to be merged with MNC Bank this year.

Last year, the company said it planned to invest Rp 30 trillion ($2.13 billion) in the next five years to fund expansion in various sectors, including property, financial services and media.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.