JAKARTA (Yosefardi) – Shares of PT Visi Media Asia Tbk (VIVA) jumped 11.6% to Rp240 this morning, regained 60% from its bottom. The stock had plummeted 63% 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.