NETV Stocks are Gasping Again, Due to Issues of Wanting to Be Annexed by FILM?

Jakarta, CNBC Indonesia – The shares of a media and entertainment issuer, namely PT Net Visi Media Tbk (NETV), have been observed to have shot up and have touched auto reject above (ARA) in trading session I Thursday (8/6/2023).

As of 10:24 WIB, NETV shares were observed to have skyrocketed 9.62% to a price of IDR 171/share. In fact, NETV shares have touched ARA since the first trading session today.

NETV shares have been traded 286 times with a volume of 8.74 million shares and the transaction value has reached Rp 1.49 billion. The market capitalization currently reaches IDR 4.01 trillion.

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Until 10:24 WIB, on bid or buy orders, there were 101,269 lots queued at a price of IDR 171/share or around IDR 1.7 billion, as well as being the largest buying queue in session I today.

However, in the offer or sell order, there is no queue that is listed again, indicating that NETV shares have touched ARA.

The skyrocketing of NETV shares occurred amid rumors that film shares owned by Manoj Punjabi, namely PT MD Pictures Tbk (FILM), are planning to acquire NETV shares.

This was carried out as FILM held Capital Increase by Pre-emptive Rights (PMHMETD) or rights issue. It’s just not known in detail about these rumors and whether these rumors will actually happen.

This issue did not only move NETV shares in session I today, but since session II in trading last Wednesday.

At the end of trading session II yesterday, NETV shares were observed to have closed soaring 9.86%. Even before the issue hit the market, NETV shares had actually been green since Monday earlier this week.

In the past week, NETV shares have shot up 20.42%, while in the last month NETV shares have jumped 16.33%. But so far this year, NETV shares have still corrected up to 20.83%.

CNBC INDONESIA RESEARCH

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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.

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