Asia Vision Network has submitted a confidential S-4 draft to the SEC with respect to its proposed business combination with Malacca Straits Acquisition. AVN is the holding company for Vision + and MNC Play.
Pending approval from MLAC’s shareholders, the deal is expected to close in the third quarter when AVN would be listed on the Nasdaq as a new Indonesian US-listed holding company.
Announced in March, the deal is expected to pour more than $130 million in cash into the combiend company.
Vision+ is Indonesia’s fastest growing Over-The-Top media business and MNC Play, as well as the third-largest broadband and IPTV operator in Indonesia. The company has 1.6 million paiud subscribers and 32 million monthly users. Read more.
