FILM Shares Reaching 16.98%, Still Troubled by the Issue of NETV Acquisition?

Jakarta, CNBC Indonesia – Film stock owned by Manoj Punjabi, namely PT MD Pictures Tbk (FILM) shot again in trading session I Friday (9/6/2023), amidst rumors that the company is planning to acquire PT Net Visi Media Tbk (NETV), despite rumors this has been denied by NETV management.

As of 11:02 WIB, FILM shares had soared 16.98% to a price of IDR 3,100/share. FILM shares move in the price range of Rp 2,640 – Rp 3,140 per share.

In the first trading session, FILM shares were traded 9,131 times with a volume of 65.95 million shares and the transaction value reached Rp 194.65 billion. The market capitalization currently reaches IDR 29.48 trillion.



Until 11:02 WIB, in order to offer or sell, there are 254 lots queuing at a price of IDR 3,100/share or around IDR 78.7 million. Meanwhile, the most selling queues were at a price of Rp. 3,150/share, which reached 1,930 queuing lots or around Rp. 607.9 million.

While in bid or buy orders, there are 1,127 lots queuing at a price of IDR 3,090/share or around IDR 348.2 million. The biggest queues to buy were at Rp. 3,070/share, which amounted to 3,411 lots or around Rp. 1.05 billion.

The skyrocketing FILM share price in session I today occurred amidst the still Rumors abound regarding the company’s plan to acquire media shares, namely NETV, although this rumor has been denied by NETV’s management.

Previously, FILM management answered questions from the Indonesia Stock Exchange (IDX) regarding transaction volatility. The IDX asks for material information or facts that may affect the value of company securities or investors’ investment decisions.

FILM Corporate Secretary Fidela Hasworini also answered that his party had submitted an advertisement for the general meeting of shareholders (GMS) in which one of the agenda items was the plan to increase capital via rights issue or Pre-emptive Rights (HMETD).

In this corporate action, FILM will issue a maximum of 1,902,243,400 new shares or 20% of the issued and fully paid capital. It is planned that the agenda will seek approval through the Extraordinary General Meeting of Shareholders on June 9, 2023.

Then, Fidela stated that it had submitted all material information or facts. FILM has submitted various important company information on the IDX website and company websites related to the implementation plan private placements as well as Financial Reports.

When confirming the volatility of FILM’s shares, rumors emerged saying that FILM’s shares would acquire NETV’s shares.

However, NETV’s management opened their voices regarding the rumors of FILM’s acquisition

Based on the disclosure of information on the IDX, Thursday (8/6/2023), the Corporate Secretary of NETV Ferry explained, the company has never conveyed information regarding the news circulating among market players above to the public.

“To the best of the company’s knowledge, there has been no investment in the company,
as reported in the news,” explained Ferry, quoted CNBC IndonesiaThursday (8/6/2023) yesterday.


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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.

[Gambas:Video CNBC]

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