Jakarta, CNBC Indonesia – Shares of production house issuers, PT MD Pictures Tbk (FILM), suddenly sank to 13.46% in trading session II this Monday (23/9/2019) after foreign investors sold out the company’s shares. FILM shares which are producers film Habibie & this Ainun directly under the special supervision of the Indonesian Stock Exchange.
IDX trading data at 15.18 WIB, FILM shares collapsed 13.46% at the level of IDR 360/share, with a transaction value of IDR 3.48 billion and a trading volume of 8.60 million shares. Foreigners released IDR 342 million in FILM shares today, and in the last 5 trading days foreigners released IDR 1.42 billion.
In the last 5 trading days, FILM’s shares have also fallen by 43% and year to date or the current year, the shares of this film company owned by Manoj Punjabi have dropped significantly by up to 47%.
Decline FILM stock price that is out of the ordinary or unusual market activity (UMA) made the Exchange pay special attention to FILM shares.
Lidia M Panjaitan, Head of the IDX Transaction Supervision Division and Irvan Susandy, Head of the IDX Trading Operations and Regulations Division, said in their announcement that the IDX had asked for confirmation from the issuer concerned on September 19. Until now, the IDX is still waiting for a confirmation answer from the issuer.
“The announcement of UMA does not necessarily indicate a violation of laws and regulations in the capital market sector,” the two wrote, quoted by CNBC Indonesia, Monday (23/9/2019).
“The latest information regarding listed companies is information dated September 18 2019 which was published on the Exchange website regarding reports on ownership or any changes in share ownership of public companies,” wrote Lidia and Irvan.
Therefore, he said, in connection with the occurrence of the UMA on the FILM shares, the IDX is currently observing the development of this stock transaction pattern.
“That’s why investors are expected to pay attention to the listed company’s response to the Exchange’s confirmation request, pay close attention to the issuer’s performance and information disclosure,” he said.
In addition, investors and potential investors are asked to review the issuer’s corporate action plan if the plan has not yet been approved by the GMS and consider various possibilities that could arise in the future before making an investment decision.
Last week, the President Director of PT MD Graha Utama, who is also the majority shareholder MD PicturesManoj Dhamoo Punjabi, again reduced his shareholding in the film’s production company.
The sale of 59,523,900 FILM shares made MD Graha Utama pocket funds worth Rp 12.50 billion in two transactions. IDX information disclosure data noted that the first selling transaction was carried out on September 4 at a price of Rp. 210/share with a total of 1,190,500 shares or a value of Rp. 250 million.
Meanwhile, the second selling transaction was carried out by MD Graha Utama on September 6, totaling 58,333,400 shares at a price of IDR 210/share or IDR 12.25 billion. Thus, the total sales of these shares reached Rp 12.50 billion.
FILM was the first film company to take the floor on the IDX on August 7 2018. At the time of the initial offering (IPO) FILM’s share price was released at Rp 280/share. Then this stock went wild and rose up to 453% to a price level of IDR 1,550/share.
FILM is a company that produces a number of well-selling films and soap operas which are shown in local cinemas. Some of the films include Danur 3, Twivortiare, Ayat-Ayat Cinta 2, and Habibie & Ainun.
The story of Manoj Punjabi, from textile to the ‘king’ of film
Releasing FILM shares 4 times, Manoj Punjabi has a cash value of IDR 186 billion