JAKARTA (Yosefardi) – Shares of PT Visi Media Asia Tbk (VIVA) surged 5.6% to Rp170 this morning, regained 21% from its bottom.
Some 117.69 million shares were exchange hands during early trade this morning. The stock had plummeted 75% from its peak year to date.
The company earlier said it is seeking bank loan to finance its business expansion which costs US$85 million, equivalent Rp850 billion.
Visi Media allocates US$150 million fund for its pay tv (Viva Sky), new business segment, to be launched in November this year along with world cup momentum.
Visi Media also plans to build new office building and new studio for broadcasting, located in East Jakarta area, with investment cost of US$30 million.