Indonesia's Visi Media Plans IPO Later This Year - Official

PT Visi Media Asia, or Viva, will offer shares to the public later this year to raise funds for business expansion, its Chief Executive Officer Anindya Bakrie said Tuesday.

Bakrie said the owner of two local channels Anteve and TV One and online news portal Viva News has appointed Credit Suisse, PT Danatama Sekuritas and PT Ciptadana Sekuritas as joint lead underwriters for the planned initial public offering. 

According to a banker familiar with the deal, Viva will likely sell up to 40% of its stake to raise around $1 trillion ($114 million).

The Bakrie Group owns a 92.5% stake in Viva, and Star TV the remaining balance. Source: Automated trader