Rumors of FILM Acquisition of NETV, Management Says This

Jakarta, CNBC Indonesia – Issuer engaged in the media, PT Net Visi Media Tbk. (NETV) opened its voice regarding the news of corporate action with PT MD Pictures Tbk. (FILM). The news circulating among market players stated that FILM would acquire NETV shares.

Quoting the disclosure of information on the Indonesia Stock Exchange (IDX), PT Net Visi Media Tbk said that there have been no plans for any corporate or investment actions, as has been reported so far.

“The company has never submitted the information referred to in the letter to the public, and to the best of the company’s knowledge, there has been no investment in the company, as reported in the news,” wrote management, Friday (9/6).

Management emphasized that the company currently does not have any important information or events that can be conveyed to the public, other than what the Company has conveyed to the public through the mass media before.

“The company is committed to always obeying and complying with the regulations of the Financial Services Authority and the Indonesian Stock Exchange,” he said.

Meanwhile, the management of PT MD Pictures Tbk. (FILM) said that there was no information or other important events that had not been conveyed to the public. The Company consistently conveys various important company information by implementing the applicable capital market regulations.

Film stock owned by Manoj Punjabi, namely PT MD Pictures Tbk (FILM) shot again in trading session I Friday (9/6/2023), amidst rumors that the company is planning to acquire PT Net Visi Media Tbk (NETV), even though these rumors has been denied by NETV management.

As of 11:02 WIB, FILM shares had soared 16.98% to a price of IDR 3,100/share. FILM shares move in the price range of Rp 2,640 – Rp 3,140 per share.

In the first trading session, FILM shares were traded 9,131 times with a volume of 65.95 million shares and the transaction value reached Rp 194.65 billion. The market capitalization currently reaches IDR 29.48 trillion.

Until 11:02 WIB, in order to offer or sell, there were 254 lots queued at a price of IDR 3,100/share or around IDR 78.7 million. Meanwhile, the most selling queues were at a price of Rp. 3,150/share, which reached 1,930 queuing lots or around Rp. 607.9 million.

While in bid or buy orders, there are 1,127 lots queuing at a price of IDR 3,090/share or around IDR 348.2 million. The biggest queues to buy were at Rp. 3,070/share, which amounted to 3,411 lots or around Rp. 1.05 billion.

The skyrocketing FILM share price in session I today occurred amidst rumors that the company is planning to acquire media shares, namely NETV, although this rumor has been denied by NETV management.

FILM Corporate Secretary Fidela Hasworini also answered that his party had submitted an advertisement for the general meeting of shareholders (GMS) in which one of the agenda items was a plan to increase capital via a rights issue or pre-emptive rights (HMETD).

In this corporate action, FILM will issue a maximum of 1,902,243,400 new shares or 20% of the issued and fully paid capital. It is planned that the agenda will seek approval through the Extraordinary General Meeting of Shareholders on June 9, 2023.

Then, Fidela stated that it had submitted all material information or facts. FILM has submitted various important company information on the IDX website and the company’s website related to the private placement plan as well as the Financial Report.

When confirming the volatility of FILM’s shares, rumors emerged saying that FILM’s shares would acquire NETV’s shares.

[Gambas:Video CNBC]

(fsd/fsd)