Reuters: Private Equity: Indonesia's MNC Skyvision aims for $260 mln July IPO

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Indonesia's MNC Skyvision aims for $260 mln July IPO Jun 15th 2012, 08:32 JAKARTA, June 15 | Fri Jun 15, 2012 4:32am EDT JAKARTA, June 15 (Reuters) - PT MNC Skyvision, Indonesia's largest pay TV provider, is looking to raise up to 2.45 trillion rupiah ($260.08 million) in an initial public offering in July after setting a price range on Friday, an underwriter said. The TV firm, controlled by media mogul Hary Tanoesoedibjo, has set a price range for the offering at between 1,460 rupiah to 1,750 rupiah per share, Danareksa Securities said. The firm aims to sell 1.4 billion new and existing shares, equal to 20 percent of the company's enlarged capital. The IPO has been delayed several times due to market uncertainty and the firm previously sought to raise up to $400 million. U.S private equity firm Saban Group has expressed interest to become an anchor investor for the deal, Tanoesoedibjo told Reuters in an interview last month. MNC Skyvision is Indonesia's market leader in satellite pay TV with 1.1 million paying subscribers by the end of 2011 through its two brands Indovision and Top TV. Indonesia's pay TV market penetration rates overall still remain low. ($1 = 9,420 rupiah) (Reporting by Andjarsari Paramaditha and Fathiya Dahrul, Editing by Neil Chatterjee)

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