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Jakarta, CNBC Indonesia – Ram Punjabi’s film stock, namely PT Tripar Multivision Plus Tbk (RAAM), has fallen again and touched auto reject (ARB) in trading session I Wednesday (17/5/2023), where RAAM shares have touched ARB for three consecutive days.
As of 09:50 WIB, RAAM shares were observed to have fallen 6.5% to a price of IDR 575/share.
RAAM shares in trading session I have been transacted 483 times with a volume of 10.72 million shares and the transaction value has reached IDR 6.16 billion. The market capitalization currently reaches IDR 3.56 trillion.
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Until 09:50 WIB, in order to offer or sell, there were 374,147 lots queued at a price of Rp. 575/share or around Rp. 21.5 billion, as well as being the biggest selling queue for today’s morning trading.
Meanwhile, in bid or buy orders, there is no queue that has been listed again, indicating that RAAM shares have touched ARB.
If you include today’s trading, RAAM shares have touched ARB for three consecutive days.
Previously, for five consecutive days since its first trading on Monday last week, RAAM shares managed to shoot up to 141.44%. Meanwhile, from the IPO price until Friday last week, RAAM’s shares skyrocketed 201.28%.
Even though ARB has printed three days in a row, RAAM shares have still skyrocketed to 96.92% since the close of its first trading on Monday last week.
Meanwhile, from the IPO price of Rp 234/share, RAAM’s shares have skyrocketed 145.73%.
Action profit taking still the cause of RAAM shares touching ARB again today. This is reasonable because RAAM shares have succeeded in making investors who own these shares make quite a lot of money, so that when they own RAAM shares and have touched target priceit, so they didn’t take long to release it to gain money.
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, around 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. This cinema is planned to start operating in the second quarter of 2023.
In addition, RAAM is aiming for a surge in revenue this year by releasing 10 new films in various locations Over-The-Top platforms (OTT). 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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