O’Melveny & Myers LLP represented PT MNC Sky Vision Tbk. (MSKY) in connection with its initial public offering of ordinary shares on the Indonesia Stock Exchange. O’Melveny advised MSKY on its Rule 144A international offering to eligible investors outside of Indonesia. The offering amount was 1,412,776,000 ordinary shares, or 20% of its outstanding shares, at a price of Rp. 1,520 per offer share, or approximately US$227.8 million raised.
MSKY, which operates under the Indovision, Top TV, and OkeVision brands, is Indonesia’s largest provider of pay TV services in the country, with a total market share of 69.6% as of December 31, 2011.
“This has been a very successful offering for our client,” said O’Melveny partner David Makarechian, who advised MSKY on the IPO. “From Indonesia to Singapore and India, to Hong Kong and China, our Asia Capital Markets team has been involved in a number of great transactions like MNC Sky Vision, and that is very gratifying.”
Partner Joel Hogarth added, “It has been a great privilege to work with leading Indonesian groups like MNC on their cross-border transactions.”
Morgan Stanley, J.P. Morgan, and PT MNC Securities acted as joint global coordinators, joint lead managers, and joint bookrunners.
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