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Jakarta, CNBC Indonesia – Like not knowing the word give up, the shares of PT MD Pictures Tbk (FILM) in today’s trading again rose significantly when the Jakarta Composite Index (IHSG) was in the red zone. Even though yesterday the Indonesia Stock Exchange (IDX) had stopped trading in these shares due to unusual transaction activity.
This morning, FILM’s share price rose 10.16% to Rp 1,030/share after previously rising by 14%. The trading volume of shares was recorded at 17.53 million shares valued at Rp 18.31 billion.
On Wednesday (15/08/2018), the IDX temporarily suspended (suspensed) FILM shares after a significant increase in the cumulative price of the company’s shares recently. According to IDX disclosure information, the suspension was carried out in the context of cooling down which aims to provide adequate time for market players to consider the information available on 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.
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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