Jakarta - PT MNC Vision Network Tbk (IPTV) plans to issue 4.219 billion new shares through the mechanism of additional capital without preemptive rights.

Based on the company's prospectus released on Friday (10/14), it will hold the private placement after obtaining the approval of the EGMS on November 21, 2022.

The company will use the entire proceeds from the private placement for its working capital and increase the capital of its subsidiaries to support business development and sustainable growth in the number of customers.

Therefore, the private placement plan can improve the company's capital and financial structure, increase the number of outstanding shares, and open up opportunities for strategic investors to invest their capital in the company.