JAKARTA (Yosefardi) – Parent company of ANTV, PT Inter Media Capital (IMC), plans to sell 10% shares in ANTV in first quarter of 2014, through the initial public offering (IPO) scheme.
ANTV, unit of PT Visi Media Asia Tbk (VIVA), will use its IPO proceeds to pay its debts.
Charlie Kasim, finance director of ANTV, said the company is now conducting a beauty contest for selecting underwriters for the IPO.
Media earlier reported PT Media Nusantara Citra Tbk (MNCN) has ended discussions with VIVA Group on the acquisition of ANTV.
VIVA also said earlier it intends to offer shares of its 2 units, PT Cakrawala Andalas Televisi and PT Lativi Mediakarya, through IPO.
Cakrawala Andalas is operator of ANTV while Lativi Mediakarya is operator of TV One.
Erick Thohir, president director of Visi Media, said the IPO is an option while the company also plans divestment of units to strategic investors.