Jakarta, CNBC Indonesia – The Indonesia Stock Exchange (IDX) reopened PT MD Pictures Tbk (FILM) after being temporarily halted in today’s trading.
Based on the announcement made by the IDX, it was stated that the Exchange would reopen FILM stock trading starting from the first trading session tomorrow. “The suspension of trading of FILM shares in the Regular and Cash Markets was reopened starting from trading session I on August 16 2018,” said the Head of the IDX Transaction Supervision Division, Lidia M Panjaitan.
Previously, the IDX temporarily suspended (suspensed) FILM shares in today’s trading, in connection with the recent significant increase in the cumulative price of the company’s shares.
According to IDX disclosure information, the suspension was carried out in order cooling down which aims to provide sufficient time for market participants to consider the information contained in 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.
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.
Since it was first listed on the Indonesia Stock Exchange (IDX) on August 7 2018, FILM’s share price has increased by 345.24%, from Rp. 210/share to Rp. 935/share. Yesterday, Tuesday (14/8/18), FILM’s share price closed up 23.03% to Rp 935 per share from the previous day’s close of Rp 760 per share.
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.
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