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Jakarta, CNBC Indonesia – Technology giant from China, Tencent Holdings Limited, through its Hong Kong-based subsidiary, Image Frame Investment (HK) Limited, has officially become a minority shareholder in PT MD Pictures Tbk (FILM).
Image Frame is a a company incorporated in Hong Kong, owned by Tencent, and having its address at Level 29, Three Pacific Place, 1 Queen’s Road East, Wanchai, Hong Kong.
Director of Image Frame Investment Ma Huateng said the investment was direct at the issuer owned by the film entrepreneur, Manoj Punjabi.
“Direct investment, the transaction was carried out last October 15,” said Ma Huateng, in his letter to the Indonesia Stock Exchange (IDX), quoted on Tuesday (26/10).
He said that the company previously did not have direct or indirect ownership in MD Pictures. Then the company bought 1,390,950,000 shares of MD Pictures, or representing 14.62% of all company shares.
The exercise price is IDR 500/share so that the funds disbursed reach IDR 695.48 billion.
The purchase price was actually a premium because it was above the closing price on October 15, which was IDR 408/share. Meanwhile at the close of trading last Monday (25/10), FILM shares closed minus 3.24% at IDR 418/share, with a transaction value of IDR 9.98 billion and a trading volume of 23.61 million shares.
Within a week FILM shares rose 2.45%, a month rose 22%, and year to date or the current year shot up 120% with a market capitalization of IDR 3.98 trillion. The purchase price of IDR 500/share is also above the average price in the last 3 months.
Meanwhile, in the October 22 shareholder report, it was stated that Manoj Punjabi also carried out an internal share restructuring by purchasing 1,177,577,413 or 12.38% at a price of IDR 500/share, so this transaction was worth IDR 588.78 billion.
Thus, previously Manoj personally held 8.86% to 21.24% or with ownership of 2,019,981,115 shares from previously only 842,413,702 shares.
In an October 22 disclosure, MD Pictures’ management has also stated that Tencent Holdings is indeed one of the minority shareholders in MD Pictures.
Manoj Punjabi, Founder & CEO of MD Pictures, also responded positively to the entry of Tencent as a new investor in FILM.
“This investment reflects Tencent’s ongoing commitment as a cutting-edge technology company to develop the content industry globally,” he said, quoted Friday (22/10/2021).
Tencent is the holding company of a Chinese multinational technology conglomerate. Founded in 1998, its subsidiaries globally market a variety of Internet-related services and products, including in entertainment, artificial intelligence, and other technologies.
The company is headquartered at Tencent Seafront Towers based in Nanshan District, Shenzhen.
Tencent is one of the largest social media companies, venture capital firms and investment firms.
Its services include social networks, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones and multiplayer online games.
Its services in China also include Tencent QQ instant messaging and WeChat, and one of the web’s largest portals, QQ.com. Also has majority ownership of Global music service, Tencent Music Entertainment, with more than 700 million active users and 120 million subscribers.
As a comparison, as of September 30, MD Pictures was still controlled by PT MD Global Media with 37.72% ownership and PT MD Graha Utama with 12.78% ownership.
Others, owned by Manoj Dhamoo Punjabi 23.48% and PT MD Global Investment with 12.38% ownership. The rest, public shareholders 12.10% and treasury shares 1.54%. Manoj several times carried out the ‘maneuvers’ of buying and selling shares in several stages this year.
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