MNC Skyvision launches IPO of up to $200 million

MNC Skyvision, an Indonesian pay-TV operator owned by media group Global Mediacom, kicked off the institutional bookbuilding yesterday for an initial public offering that is aiming to raise between Rp1.6 trillion and Rp1.9 trillion $170 million to $200 million.

The deal is a play on Indonesia’s strong consumer demand story and comes as stock markets in Asia rose after the election results in Greece eased worries about the eurozone crisis. Jakarta’s benchmark share index opened yesterday at almost exactly the same level as it started the year, but closed 1.1% higher.

Bankers started investor education for the transaction during the first week of May. MNC Skyvision...