| Ticker: MPAR | Av. Rio Branco, 1-6 Andar | |
| Exchange: NASDAQ-National Market | Rio de Janeiro, Foreign 20090 | |
| Industry: Service |
| Type of Shares: | American Depositary Receipts | Filing Date: | 10/9/96 | |
| U.S. Shares: | 8,307,692 | Offer Date: | 10/31/96 | |
| Non-U.S. Shares: | 5,538,461 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 7,692,307 | Offer Price: | $14.00 | |
| Secondary Shares: | 6,153,846 | Gross Spread: | $0.60 | |
| Offering Amount: | $179,999,989 | Selling: | $0.35 | |
| Expenses: | $1,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 100,000,000 |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Lazard Freres & Co. | Co-manager | (212) 632-3000 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Auditor: Price Waterhouse | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $67.74 | $62.70 | $25.23 | Assets: | $483.78 |
| Net Income: | -$18.09 | -$14.16 | -$4.81 | Liabilities: | $317.57 |
| EPS: | -$0.05 | -$0.02 | -$0.02 | Equity: | $166.21 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the largest cable television operator in Brazil, measured in terms of total subscribers, equity subscribers, homes passed and network mileage. The markets served by cable television systems in which the company has an interest include Sao Paulo (market population 10.0 million), Rio de Janeiro (market population 5.5 million) and Belo Horizonte (market population 2.0 million), Brazil's three largest cities. The company presently holds a 99.6% ownership interest in Multicanal Cabo, which owns and operates ten cable television systems, a 100% ownership interest in Multicanal BH, which operates the Belo Horizonte cable television system, and strategic minority investments in the Multicanal Florianopolis, Net Rio and Rio Cabo cable television systems. Together, these cable television systems pass approximately 1,619,800 total homes and serve approximately 555,800total subscribers. Included in such subscriber information are 85,426 total backlog subscribers that have paid significant sign-on and hookup fees, but as of June 30, 1996, had not been connected to their networks. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund extension of the company's cable network buildout in its existing licensed service areas and upgrade the cable network architecture in three other cable systems. |
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