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Jakarta, CNBC Indonesia – Film stocks owned by Ram Punjabi, namely PT Tripar Multivision Plus Tbk (RAAM), have skyrocketed again and touched auto reject above (ARA) in trading session I Friday (12/5/2023), where RAAM shares have touched ARA for five consecutive days.
As of 11:14 WIB, RAAM shares were observed to have skyrocketed 24.78% to a price of IDR 705/share. With this, RAAM shares have touched ARA for five consecutive days.
RAAM shares have been traded 17,642 times with a volume of 120.72 million shares and the transaction value has reached IDR 81.14 billion. The market capitalization currently reaches IDR 4.37 trillion.
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Until 11:14 WIB, in order to bid or buy, there are 61,261 lot queues at a price of IDR 705/share, as well as being the largest buying queue for today’s trading.
Meanwhile, in an offer or sell order, there is no selling queue that is listed again, indicating that RAAM shares have touched ARA.
From its first trade to today, RAAM shares have skyrocketed 141.44%. Meanwhile, from the IPO price until today’s first session, RAAM shares have flown up to 201.28%.
Investor interest is still high enough to make RAAM shares continue to score ARA for five consecutive days. Apart from that, RAAM’s skyrocketing share price is also considered reasonable because it is a new stock, where new shares will usually shoot up and touch ARA several times.
However, for the 2023 IPO shares, conditions tend to be different, where most of them only print ARA at least twice, so RAAM shares are in a different condition from other 2023 IPO shares.
Previously, RAAM set an offering price of Rp 234 per share. The sister issuer of Manoj Punjabi offered 929.2 million new shares issued from the company’s portfolio.
Issuers producing films such as ‘Soekarno’ and ‘Hijrah Cinta’ plan to use the proceeds from the IPO, including 81.6% of it for the company’s working capital, namely financing the production of films/web series/soap operas and others.
Then, about 18.4% paid up capital for PT. Platinum Sinema (99.99% share ownership). The funds will be used to build and operate a new theater in Kebumen. The cinema is planned to start operating in 2Q2023.
Apart from Kebumen, 3 new theaters are in the process of obtaining PKKPR and NIB permits which are planned to operate in 2023 in Banyuwangi, Tabanan, Kualakapuas. Meanwhile, 5 new theaters are in the process of obtaining PKKPR and NIB permits which are planned to operate in 2024 in Garut, Padang Sidempuan, Bondowoso, Demak, Pangkalan Bun.
In addition, RAAM is aiming to increase revenue this year by releasing 10 new films on various Over The Top (OTT) platforms. In addition, the company will produce 180 hours of soap operas.
“It is currently under preparation and hopefully it will go ahead as planned,” said Tripar Multivision Plus Founder and Chief Commissioner, Raam Punjabi.
He added, in terms of genre, the company will issue several versions, such as 1 comedy film, 4 horror films, and 2 drama genre films. The new issuer who will use the RAAM stock code hopes that his new films will be well absorbed by audiences in Indonesia.
“We always have the hope that the audience will reach 5 million,” said Raam Punjabi.
CNBC INDONESIA RESEARCH
Disclaimer: This article is a journalistic product in the form of views from CNBC Indonesia Research. This analysis does not aim to persuade readers to buy, hold, or sell related investment products or sectors. The decision is entirely up to the reader, so we are not responsible for any losses or profits that arise from that decision.
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