MAM

Media IPO makes a splash at Malaysian bourses

MUMBAI: Malaysian media magnate Ananda Krishnan's pay TV company, Astro All Asia Networks, has raised $526 million (M$ 2 billion) through its Initial Public Offering (IPO) on the Kuala Lumpur Stock Exchange. The issue is said to be 8.16 times oversubscribed.

According to a company statement, the funds so raised are slated to go towards debt repayment. Market analysts have pegged the offer to debut at a 10 per cent premium on 28 October, which is when the shares will be first listed on the Exchange.

According to Malaysian Issuing House (MIH), 111,817 applications had been received against 241.21 million IPO shares for Astro All Asia Networks' public tranche and 88,139 applications were received for 245.41 million shares from eligible subscribers and retailers. Astro had offered 425 million shares to foreign and Malaysian institutional and selected investors and 83.4 million shares were up for retail investors. The IPO's retail portion was reportedly fixed at RM3.65 a share and its institutional portion at RM4.06 a share.

As per a Financial Times report, about 60 per cent of the IPO had been offered to foreign institutions, 24 per cent to local funds, and the balance to retail and employees.

Although according to earlier estimates, the issue was deemed oversubscribed by over 15 times, the final figures from MIH reflected market concerns about Astro's earnings growth potential. The IPO is now being said to be 8.16 times oversubscribed - around half way through initial expectations.

Since Astro is not considered a high-yield stock, investors are more interested in the satellite operator's earnings growth, which would depend largely on whether the media group can rope in the predominant Malay population. For now, most of Astro's 1.1 million subscribers comprise the Chinese and Indian communities, which are nearly a quarter of all Malaysian households.

Astro - Malaysia's sole pay-TV operator - has been offering satellite services for the last seven years and operates 46 pay channels that compete with five free-to-air broadcasters. As per its financial results in the prospectus, Astro had posted a net profit of RM293.11 million for the year till January 2003; but for the first six months till July this year, it made a net loss of RM30.77 million.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/24/ambuja-cement.jpg?itok=FE9RTWs-
Publicis Ambience & Ambuja Cement part ways

Ambuja Cement and its creative partner Publicis Ambience have decided to mutually part ways.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/22/Smriti-Irani.jpg?itok=o_TOmvtd
11% TV & 7% digital ad growth in '16, says Smriti Irani

NEW DELHI: The ministry of information and broadcasting received a total of 280 complaints on misleading advertisements during the period 2015 to 2017 as on 30 June, the Parliament has been told.

MAM Media and Advertising Digital Agencies
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/22/Jatin-Varma.jpg?itok=qr8fioer
Comic Con founder Varma wins 'Young Entrepreneur' award

NEW DELHI: Comic Con India founder Jatin Varma has won the 'Young Entrepreneur' of the year award at Entrepreneur Magazine Awards 2017.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/24/medimix.jpg?itok=OmmTfDJH
Medimix campaign depicts not to be guilty of neglecting your skin

Medimix, established in the year 1969, is considered as one of the most trusted Ayurvedic brand for more than four decades; has remained the pioneer in the personal care segment by providing complete skin care solutions.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/splivilla.jpg?itok=7-O08MX_
Vivo, Denver, Syska, PC, Manforce & Hike board Splitsvilla on MTV

With India’s original dating reality show celebrating a decade, MTV, the iconic youth brand, brings back the most watched game of love ‘Splitsvilla’ with a renewed take on the concept of dating, with an all-new exciting theme - ‘Catch Your Match’. In its latest season,

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/Jab_Harry_Met_Sejal.jpg?itok=B9DZZMlc
TBZ associates with 'Jab Harry Met Sejal'

MUMBAI: TBZ is launching the ‘Jab Harry Met Sejal’ ring campaign on 21 July with a series of consumer centric activities till the release of the Shah Rukh Khan-Anushka Sharma film on 4 August, 2017, with different interactive elements such as ‘Seek the Ring’; ‘Meet and Greet with SRK & Anushka...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/Untitled-1_1.jpg?itok=v3j3c_Rc
#NoWorldWithoutGirls: eBay & Sanam launch campaign

MUMBAI: eBay India along with Band Sanam launched its campaign #NoWorldWithoutGirls. The campaign reinforces prohibition of sex determination kits and addresses a social evil that is prevalent across the Indian society towards acceptance of a girl child.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/22/Untitled-1_0.jpg?itok=YKGoZgFo
DAVP ads: Audio-visual medium gets lion's share

NEW DELHI: A sum of Rs 12.8577 billion was spent in 2016-17 in advertisements on various media by the Directorate of Advertising and Visual Publicity, the Parliament has been told.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/20/oppo.jpg?itok=PtmoMH6y
Oppo & Times ask -- What’s your Fresh Factor?

The Times of India in collaboration with Oppo brings the 10th edition of the most coveted personality and talent hunt across colleges in India, Oppo Times Fresh Face 2017. The property has been a calendar event among collegians since its inception as it brings together students, from different...

MAM Marketing Above The Line

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories