FILM Shares Are Reckless Again, Since IPO Has Increased 504%

Jakarta, CNBC Indonesia – PT MD Pictures Tbk share price (FILM) this morning again rally. Efforts by the Indonesia Stock Exchange (IDX) to stop the trading of these shares, last week’s trading, apparently did not dampen the excitement of the film producer’s shares.

In this morning’s trade, FILM’s share price rose 17.27% to a level of Rp 1,290/share. The trading volume reached 12.49 million shares valued at Rp 15.7 billion.

If calculated from the initial share trading price on August 7 2018 at a price level of IDR 210, the increase in FILM’s share price has reached 504.76%. This increase only lasted within two weeks.

Last week, on Wednesday (15/08/2018), the IDX temporarily suspended (suspensed) FILM shares after a significant increase in the cumulative price of the company’s shares recently. Quoting IDX’s disclosure of information, the suspension was carried out in the context of cooling down which aims to provide adequate time for market players to consider the information available on FILM shares.

During this suspension period, market participants are also expected to be able to sort out every investment decision they make in the company’s shares. However, after being traded again and the share price has fluctuated, the IDX has not given any statement regarding this stock.

The IDX board of directors last week, when asked about this stock trading activity, did not provide any explanation.

Previously, the company’s shares were included in stocks whose movements were monitored by the IDX due to unusual stock movements (unusual market activity/UMA). The company only listed its shares on August 7 2018 last week.

The film company’s shares are said to have experienced an unacceptable increase, so the bourse asked investors to pay attention to the company’s response regarding a request for confirmation from the regulator.

MD Pictures is a company that produces films screened in Indonesia, Malaysia, Singapore and Brunei Darussalam. This company was founded in 2007 by Manoj Punjabi who currently serves as the company’s main director.