JAKARTA: PT Visi Media Asia, a business group belonging to Aburizal Bakrie, appoints Credit Suisse as the international underwriter to handle the initial public offering (IPO) of the company this year.Presiden Direktur Viva Media Grup Anindya N. Bakrie said that the company will be assisted by four underwriters, namely PT Ciptadana Securities, PT Danatama Makmur, and Credit Suisse.Our global underwriter is Credit Suisse, and we have invited them. Moreover, we have Danatama and Ciptadana, he said yesterday.Visi Media Asia is a media conglomerate that controls two TV stations, TV One and Antv, and an online news portal Vivanews.There has been rumor saying that Visi Media will release 20%-30% shares to public. From the IPO, the company is predicted to get IDR1 trillion.However, Anindya declined to disclose the portion of ownership to be released and the amount of cash targeted from the IPO.We are still calculating. Through the offering, we plan to improve our capacity as national television and online media business, he said.Last year, Anindya added, all media units belonging to Bakrie Group worked well and were able to increase the performance of the company. Vivanews was the second most visited site for online news portal, he said.He said that after the IPO, Visi Media will strengthen the business structure of TV One as a national news channel, and Antv as a TV station providing sports and entertainment programs.According to a research by Nielsen in October 2010, audience share of Antv was 7.1%, while TV One was 4.9%, below that of the TV stations controlled by Harry Tanoesudibyos MNC Group, Chaerul Tanjungs Trans Group and PT Elang Mahkota Teknologi Tbk.Vice President PT Erdikha Sekuritas M. Reza said that the average price to earning ratio (PE) in domestic market in 2011 is 13 times, assuming that the index of Indonesian stocks (Jakarta Composite Index) stays around 3,400.He thought that IPO of Viva Media will attract the market, if PE of Bakries media group is below the average of domestic market.Now, the average PE of MNC Group and SCTV is about 15 times. If Viva Media has less than that, its IPO will attract the market, he explained. (t04/wiw)

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