Jakarta, CNBC Indonesia – The boss and owner of PT MD Graha Utama, the holding company PT MD Pictures Tbk (FILM)Manoj Dhamoo Punjabi spoke up explaining the sale of his company.
“If you look at today’s press release, it has been clarified that we are not selling any shares. This has been done before but I don’t want to talk further. The press release is clear, (ownership) is still the same, there has been no change,” Manoj said in Jakarta, Wednesday ( 2/10/2019).
Manoj added that the focus of MD Pictures’ management is to continue to improve fundamentals. “(The) film industry cannot be determined at the beginning of the year, what films will explode. But now it is on track with the release of Danur and Habibie Ainun in December,” added Manoj.
Based on information disclosure on the Indonesia Stock Exchange (IDX), Manoj has reported several times to the IDX regarding the release of share ownership in the film production company.
Yesterday, Tuesday (1/10/2019), Manoj announced the sale of shares with the code FILM on September 19. The company released 4,762,000 shares at a price of Rp 210/share so that it pocketed Rp 1 billion in funds.
If you add up the previous shares selling action on September 4 and 6, when Manoj released 59,523,900 FILM shares and made MD Graha Utama pocket funds worth IDR 12.50 billion.
With the sale on September 19 2019, the remaining portion of MD Graha Utama’s shares in MC Pictures was 5,633,084,100 (5.63 billion shares) or 59.22% from the previous 5.64 billion shares (5,637,846,100 shares) or 59. 27%.
If you add to the sales made on July 9 2019, when Manoj sold 247 million units of shares at a price of Rp. 700/share with fresh funds of Rp. 172.9 billion, then MD Graha Utama pocketed a total of Rp. 186.4 billion in selling funds.
FILM was the first film company to take the floor on the IDX on August 7 2018. At the time of the initial offering (IPO) FILM’s share price was released at Rp 280/share. Then this stock went wild and rose up to 453% to a price level of IDR 1,550/share.
The number of shares released to the public last year was 15% of the total number of shares listed. FILM is a company that produces a number of well-selling films and soap operas which are shown in local cinemas.
Some of the films include Danur 3, Twivortiare, Ayat-Ayat Cinta 2, and Habibie & Ainun.
On Tuesday 1 October, the IDX began to temporarily suspend trading (suspension) of FILM shares in line with the significant decline in these shares. IDX data noted that in the last month, FILM’s shares have fallen by 71% and year-to-date have fallen by 62% and today the sanctions have been revoked.
Manoj added, as a company listed on the IDX, MD Pictures will implement transparency and there is nothing to worry about.
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