JAKARTA (TheInsiderStories) - Two venture capital companies, Alpha JWC Ventures and Kinesys Group, has commitment to invests in Noice and will hold 25 percent shares of the digital radio that focuses on podcasts, radio and music provider, the management announced today. The platform launched in 2018 is the unit of PT Mahaka Radio Integra Tbk (IDX: MARI), the company founded by minister of state own enterprises (SOEs), Erick Thohir.
While two other investors, said CEO, Adrian Adrian Syarkawie, have entered the unit through a mandatory convertible bond program. The entry of the investors will make Mahaka’ share ownership in Noice decrease to 61 percent. The transactions is targeting to be completed in the first semester of 2021, he added.
The group managed Gen Fm, Jak Fm, Hot Fm, Kis Fm, Mustang Fm, Prambors, Delta FM, Female Radio, and Most Radio. Starting this year, the operator targeting Noice users to reached 1.8 million, grow quadrupled compared to last year 450,000 users. Of these targets, one million of them are targeted to be active users or active users from now 170,000 active users.
Beside develop digital radio, said Syarkawie, the company is developing a new business that focuses on business to consumer consist of MARI Institute, Voice, virtual concerts, talent management, retail, and visuals. Specifically for the development of virtual concerts, he explained, Mahaka Radio is preparing a joint venture which will legally be signed in the near future.
“In the near future, we will have an international concert and 90 percent have handled artists who have big names,” he concluded.
The radio provider is the unit of PT Mahaka Media Tbk (IDX: ABBA), a media company founded by Thohir. He has resigned from his position as chairman of both companies once his serving as the SOEs minister. The media group was founded in Jakarta under the name PT Abdi Bangsa on Nov. 28, 1992.
In 1993, the company launched Republika daily newspaper for the Moslem community in Indonesia. Then the issuer listed its shares on the Jakarta Stock Exchange as PT Abdi Bangsa Tbk in 2002, made the company became the first newspaper publishing company became a public company. Then, in 2003, this company became a multi-media holding company by overseeing two business units, namely PT Pustaka Abdi Bangsa and PT Republika Media Mandiri. On May 4, 2010, the name of Abdi Bangsa was changed to Mahaka Media.
While, Kinesys has experience in taking startups from newborn to big, while Alpha JWC is one of the investors of Kopi Kenangan and the Kredivo application.
Written by Editorial Staff, Email: theinsiderstories@gmail.com
