NET TV's IPO: Prospects and Anticipation
NET TV, an Indonesian free-to-air television channel launched in 2013, has earned a whopping Rp149.99 billion after its successful market debut on Wednesday (1/26). PT Net Visi Media Tbk. Appointed PT NH Korindo Sekuritas Indonesia as their underwriter, and the shares were listed in the capital market under the code NETV. PT Net Visi Media Tbk. is the fourth company in 2022 to go public on the Indonesian Stock Exchange (IDX). The company offered roughly 765.3 million shares or about 4.37% of the issued capital. On its first day, the firm’s stock price closed at Rp264, nearly 35% up from its initial public offering (IPO) of Rp196. Foreign investors were also interested and took part in this IPO with a net buy of Rp59.06 billion of NET TV shares. On the second day, it surged even higher to Rp330, securing an approximate increase of 68.36% within two days. With the IPO proceeds, NET TV intends to allocate 18.5% of its earnings towards the company’s expansion and operational costs of 28.5% towards its subsidiary company PT Net Media Digital, and the remaining 53% towards the working capital of PT Net Mediatama Televisi.
On the other side of the world, Disney, who has a collection of entertainment franchises and a library of classic film and television series, had its first IPO in 1957. Goldman Sachs co-led the Disney IPO at a share price of US$13.88 on the New York Stock Exchange. As of Thursday (1/27), Disney has a market cap of US$243 billion with Star Wars, Marvel Cinematic Universe, Pixar, and a long list of others as their assets to adapt and thrive amid significant changes in the entertainment industry. Another entertainment giant, Tencent Holdings Limited, an investment holding company principally involved in the provision of value-added services (VAS) and online advertising ser