For Rp. 12 billion, Manoj Punjabi sells MD Pictures shares again


Jakarta, CNBC Indonesia – President Director of PT MD Graha Utama, who is also the majority shareholder PT MD Pictures Tbk (FILM)Manoj 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. Information disclosure data from the Indonesia Stock Exchange (IDX) noted that the first sale transaction was made 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.

With this sale, the remaining portion of MD Graha Utama’s shares in MC Pictures is 5.64 billion shares (5,637,846,100 shares) or 59.27%.

As of June 2019, MD Graha Utama still owns 62.50% of FILM shares, while the remaining 22.50% belongs to PT MD Global Media, and public investors. The portion of shares in June has not changed compared to the portion of shares at the end of last year.

“In accordance with OJK Regulation Number 11 concerning Information Disclosure of certain Shareholders, [saya] reported that I have shares of a public company with details of MD Pictures shares,” wrote Manoj Dhamoo Punjabi, Main Director of MD Graha Utama who is also the Main Director of MD Pictures.

IDX data noted that the sale of these shares was carried out at a price far from the market price. On this Wednesday (18/9/2019), at 14.31 WIB, FILM shares were traded on average at the level of IDR 614/share. In the past year, FILM’s shares have fallen by 63%, even though foreigners have entered Rp. 16.30 billion.

On 19 July 2019, Manoj also reported that he had sold 247 million units of FILM shares, or around 2.6% of the total number of shares listed.

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Photo: Monica Wareza

The FILM shares sold by Manoj were released at a price of IDR 700/share on July 9 2019. This means that Manoj received IDR 172.9 billion from the transaction.

After the transaction, the number of shares owned by Manoj through MD Graha Utama in MD Pictures decreased from 5.94 billion shares or 62.5% to 5.70 billion or 59.9%.

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.

The number of shares released to the public last year was 15% of the total number of shares listed. 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.

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Releasing FILM shares 4 times, Manoj Punjabi has a cash value of IDR 186 billion


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