PT Link Net Tbk, subsidiary of PT First Media (KBLV) Tbk—controlled by Lippo Group, expects to raise up to Rp487 billion from its initial public offering (IPO) kicked off today. That means Link Net is valued around US$425 million, more than twice of its parent’s current market value. Link Net’s value, however, will only be less than one-third of Harry Tanoesoedibjo’s MNC Sky Vision, which claimed itself as the largest player in cable TV industry.

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