PT MNC Studio International (MNCS), subsidiary of Global Mediacom (BMTR) has set its IPO price at Rp500-650 per share, to raise total proceeds of Rp780 billion to Rp1.01 trillion. The Company will offer 1.56 billion shares, representing 30% of its total issued and paid-up capital. The listing is scheduled for end of May this year. Acting as underwriters for this IPO are CIMB Sekuritas Indonesia, Mandiri Sekuritas, and MNC Sekuritas. MNC Studio has assets of Rp5 trillion per December last year. It booked net profit of Rp125 billion on revenues of Rp1.2 trillion. MNC Studion targets 45% growth in profit and revenue for this year.
MNC Studio plans to build Movie Land in Lido (Bogor), to pay MTN (medium term notes) debt, and to acquired assets of MNC Channels. The construction of Movie Land will start next year and is targeted to operate by 2021.