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Friday, February 18, 2011

Viva Group appoint Credit Suisse

BI/bursa
16/2/2011

Viva Group appoint Credit Suisse

JAKARTA: PT Visi Media Asia, a Bakrie Group media company, appoint Credit Suisse AG as international selling agent for initial public offering (IPO) that rumored will be targets US$100 million that been planned in 2nd semester. Previously, the appoint two local underwriters namely PT Ciptadana Securities and PT Danatama Makmur.

Visi Media Asia, lead by the oldest son from Golkar Chairman Aburizal Bakrie, Anindya Novyan Bakrie, is a holding company for television companies namely ANTV, tvOne, and a news portal Vivanews.

"Our global underwriter is Credit Suisse, we have been invited them. Beside them, there are also Danatama and Ciptadana," said Anin, nickname to Anindya, to the press after leading a public lecturer in Trisakti University's campus, Wednesday.

Visi Media Asia carries brand Viva Group, a domineer to PT Cakrawala Andalas Televisi that carries ANTV brand, PT Lativi Media Karya that controls tvOne, PT Viva Media Baru that have VIVAnews, and Channel [V] Indonesia.

Nonetheless, Anin can't specify or tell how much portion of shares will be issued to investor. He also couldn't answer the fund amount that targeted from the IPO. He simply describes that the fund will be used to enlarge their TV business and internet based media business.

"Now, our Vivanews reach 2nd position in traffic levels for online portal news."

He also mentioned they intended to strengthened tvOne position as news TV channel, ANTV as sport and entertainment TV channel.

PT Erdikha Elit Sekuritas Vice President M. Reza assess the average price to earnings ratio (PER) in the domestic media sector in the capital market in 2011 is estimated at about 13 times with the assumption that Jakarta Composite Index (JCI) in the range of 3.400.

"Right now the average PER for MNC group and SCTV in the range of 15 times. If Vision Media Asia successfully formedf PER under the number, of course the IPO will be considered attractive."

Anin is a third generation and become successor of Bakrie family business heritage. He is a grandchild of Achmad Bakrie, the founder of Bakrie Group that firstly established as CV Bakrie & Brothers in Teluk Betung, Lampung province, Sumatra Island, in 1940. The CV Bakrie & Brothers company which is a precursor to Bakrie Group business, is initially incorporated to trade rubber, pepper, coffee.

Right now Anin served as president director and chief executife officer (CEO) of Viva Group, along with his position as chairman and president commissioner in tvOne and ANTV.

He also served as president director and CEO of PT Bakrie Telecom Tbk (owns CDMA based cellular operator Esia and PT Bakrie Connectivity that carries Aha brand for internet connection).

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