Jakarta, CNBC Indonesia – PT MD Pictures Tbk (FILM) shares experienced auto rejection with an increase of 49.52% to IDR 314/share from the opening price of IDR 210/share. Meanwhile, the Composite Stock Price Index opened down 0.02% to 6,100 points.
The company’s 31st shares in 2018 were traded with a frequency of 1 time and a volume of 101 lots of shares, resulting in a value of IDR 3.17 million.
Main Director of MD Pictures Manoj Punjabi hopes that the listing of this company will make investors pay attention to film companies.
“Today is history for the Indonesian film industry because we are the first film company to become an issuer in Indonesia,” said Manoj at the Indonesia Stock Exchange Building, Jakarta, Tuesday (7/8).
The company released 1.30 billion of its shares to the public through an initial public offering (IPO) mechanism. Thus the company obtained fresh funds of Rp 274.63 billion.
Simultaneously with this IPO process, MD Pictures will also issue new shares in the framework of implementing the mandatory convertible bond (MCB) conversion worth IDR 25 billion, which was made with LVP Investments Holding Ltd on February 14 2018 by releasing 119.04 thousand ordinary shares on behalf of .
All funds obtained by the company with the two schemes will be used to finance additional film production, exclusive contracts (lock up) with artists and directors, development of intellectual property rights and development of animated films.
Affected by the Issue of Fried FILM Stocks, Manoj Punjabi Speaks Up