Fulfill Working Capital And Inject Subsidiaries, Net Visi Media Owned By Conglomerate Agus Lasmono Sudwikatmono's Indika Group Spends All IPO Proceeds

JAKARTA - PT Net Visi Media Tbk has been more than six months since the listing of its shares on the Indonesia Stock Exchange (IDX). Through the initial public offering (IPO), the parent company of NET television, which is under the auspices of the Indika Group, owned by conglomerate Agus Lasmono Sudwikatmono, has managed to raise IDR 149.99 billion in funds.

Now, most of the proceeds from the IPO have been allocated in several uses. As stated in the information disclosure of Director of Net Visi Ferry to the IDX, Thursday, July 14.

In the document, Net Visi earned net proceeds from the public offering of IDR 142.81 billion. Of that amount, about 18.5 percent or IDR 28.71 billion has been used for working capital.

In addition, the rest has been used by the company to deposit capital to two subsidiaries.

In detail, 53 percent or IDR 74.2 billion for PT Net Mediatama Televisi. For this deposit, Net Mediatama's authorized capital became IDR 6.03 trillion with issued and paid-up capital of IDR 1.51 trillion.

Another one is PT Net Media Digital IDR 39.9 billion. Through this capital injection, Net Media Digital's authorized capital became IDR 163.6 billion with issued and paid-up capital of IDR 40.9 billion.

In line with these details, Net Visi has realized the entire use of the proceeds from the IPO. Thus, there is no remaining IPO funds owned by the company.