| Ticker: PSNRY | Sentra Mulia, Jalan H.R. Rasuna Said Kav. X6, No. 8 | |
| Exchange: NASDAQ-National Market | Jakarta, Foreign 12940 | |
| Industry: Service | 2215229292 |
| Type of Shares: | American Depositary Receipts | Filing Date: | 5/21/96 | |
| U.S. Shares: | 2,290,000 | Offer Date: | 6/10/96 | |
| Non-U.S. Shares: | 1,360,000 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 3,650,000 | Offer Price: | $20.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.20 | |
| Offering Amount: | $73,000,000 | Selling: | $0.72 | |
| Expenses: | $1,565,000 | Reallowance: | $0.10 | |
| Shares Out After: | 26,121,911 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $2.25 | $0.41 | $0.75 | Assets: | $140.83 |
| Net Income: | -$4.63 | -$0.68 | -$3.18 | Liabilities: | $139.55 |
| EPS: | -$0.35 | -$0.04 | -$0.27 | Equity: | $1.27 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company provides communications services in the Asia-Pacific region. The company is a founder of Asia Cellular Satellite System, or ACeS, a joint venture intended to provide satellite-based mobile phone services. The first geosynchronous satellite for the ACeS System is expected to be launched in the fourth quarter of 1998 and the ACeS System is expected to begin commercial operations in early 1999. ACeS has appointed PSN as its exclusive national service provider in Indonesia, the fourth most populous country in the world, most of which is not presently covered by wireless services. The Company's current and historical source of revenues has been the provision of satellite transponder capacity and related services to telecommunications providers and to broadcasting customers such as STAR TV, a subsidiary of News Corporation; NBC Asia, an affiliate of the National Broadcasting Company; TVB International, an affiliate of the world's largest producer and distributor of Cantonese language programming; and RCTI, a leading Indonesian broadcaster. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay short-term indebtedness incurred to fund equity contributions to ACeS through May 1996; to fund the company's expected 1996 capital expenditures related to the company's role as a National Service Provider for ACeS; to repay short term indebtedness incurred to fund previous capital expenditures related to the company's role as a National Service Provider to ACeS and towards payments with respect to the Mabuhay satellite. |
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