Speaking of Viva, the film producer and entertainment outfit owned by Vic Del Rosario is reviving plans to raise funds through an initial public offering sometime next year.
Viva Communications Inc. in 2007 submitted an application with the Securities and Exchange Commission in a bid to raise as much as P1.2 billion through a share sale. The planned IPO was deferred due to the global financial crisis.
With the positive performance of recent “bite-size” IPOs, the movie outfit is reportedly interested in reviving its listing plan.
Viva’s IPO plan in 2007 was handled by BDO Unibank Inc. This time, it hired First Metro Investments Corp. as the underwriter. Apparently, this is how Dispo and Viva met and agreed to co-produce an Indie film.
Proceeds from the IPO are expected to enhance the company’s cable TV channels, including PBO (Philippine Box Office), which is one of the top three cable channels in the country.
Other Viva Cable TV channels are Viva Channel, Lifetime, History, Comedy Central, The Biography Channel and Crime & Investigation.
Viva Communications also has a library of films and teleseryes worth at least P5 billion.