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24 June 2007

Media Nusantara Citra’s Shares Officially Listed in Stock Exchange

From today (22/9), the shares of PT Media Nusantara Citra . (MNC) are officially for trading at the Jakarta Stock Exchange (JSX). As many as 13.75 billion shares of several television station companies’ are offered with the initial price of Rp900 per share.

MNC’s President Director, Hary Tanoesodibjo, said the release of the company’s initial shares was over-subscribed. From foreign investors which are mostly banks, the request is seven times of the given price range. “From local investors, there is nine times surplus,” he told reporters in Jakarta, Friday (22/9).

MNC release its 30 percent shares to the public with the offer of around 4.125 billion shares. Those that act as issuer guarantor is PT Bhakti Sekuritas and PT Danareksa Sekuritas.

Hary explained, 13 percent of the Initial Public Offering (IPO) funds will be allocated for RCTI bonds debt repayment amounting to Rp385 billion. The remaining 76 percent is for the development of the media, broadcasting and developing programs and also capital expenditure.

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Labels: Internet News, Market, Money, TV

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