PT Net Mediatama Televisi (NET TV) will seek IPO and MCB funding worth a total of Rp 1 trillion. Tokopedia, as the MCB buyer, will be a shareholder of NET in the corporate action.Key summary points
- NET TV is about to release one billion shares or 4.88 percent through an IPO on the Indonesia Stock Exchange (IDX).
- Tokopedia will hold 19.32 percent of NET TV’s shares after implementing a conversion of mandatory convertible bonds (MCB) worth Rp 800 billion.
- Tokopedia’s plan to synergise with NET TV is seen as a way to save advertising costs in the future.