May 8, 2018 / 4:21 AM / 3 months ago

Indonesia's MNC Studios raising up to $71 mln in IPO at 500-650 rupiah/shr

JAKARTA, May 8 (Reuters) - Indonesian media company PT MNC Studios International plans to raise up to 1 trillion rupiah ($71.25 million) in an initial public offering (IPO) scheduled in June, the company said in a prospectus on Tuesday.

MNC Studios, a unit of media conglomerate Media Nusantara Citra, plans to sell around 29.98 percent of its stake, or 1.56 billion new shares, at a price range of 500-650 rupiah per share, according to the prospectus.

The proceeds would be used to invest in its units and to pay back some debt, the company said. ($1 = 14,035.0000 rupiah) (Reporting by Cindy Silviana; Writing by Gayatri Suroyo; Editing by Muralikumar Anantharaman)

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