The Party Breaks Up, Raja Film Shares RAAM Touch ARB

Jakarta, CNBC Indonesia – After printing auto reject (ARA) for five consecutive days, film stocks owned by Ram Punjabi, namely PT Tripar Multivision Plus Tbk (RAAM), were observed to have reversed and touched auto reject (ARB) in trading session I Monday (15/5/2023).

As of 09:13 WIB, RAAM shares were observed to have fallen 6.38% to a price of IDR 660/share.

At the start of today’s trading, RAAM shares were traded 3,509 times with a volume of 39.36 million shares and the transaction value reached Rp 28.05 billion. The market capitalization currently reaches IDR 4.09 trillion.

Until 09:13 WIB, in order to offer or sell, there are 437,685 lot queues at a price of Rp. 660/share, as well as being the biggest selling queue for today’s morning trading.

Meanwhile, in bid or buy orders, there is no queue that has been listed again, indicating that RAAM shares have touched ARB.

For five consecutive days before printing ARB this morning, RAAM shares managed to shoot up to 141.44%. Meanwhile, from the IPO price until Friday last week, RAAM’s shares skyrocketed 201.28%.

Even though this morning RAAM shares touched ARB, from the IPO price, RAAM shares still shot up 182.05%.

RAAM shares are considered to be quite successful 2023 IPO shares, because the shares managed to print ARA more than two or three times, unlike IPO shares in 2023 which only printed ARA at least three times.

Previously, RAAM set an offering price of Rp 234 per share. The sister issuer of Manoj Punjabi offered 929.2 million new shares issued from the company’s portfolio.

Issuers producing films such as ‘Soekarno’ and ‘Hijrah Cinta’ plan to use the proceeds from the IPO, including 81.6% of it for the company’s working capital, namely financing the production of films/web series/soap operas and others.

Then, about 18.4% paid up capital for PT. Platinum Sinema (99.99% share ownership). The funds will be used to build and operate a new theater in Kebumen. This cinema is planned to start operating in 2Q2023.

Apart from Kebumen, 3 new theaters are in the process of obtaining PKKPR and NIB permits which are planned to operate in 2023 in Banyuwangi, Tabanan, Kualakapuas. Meanwhile, 5 new theaters are in the process of obtaining PKKPR and NIB permits which are planned to operate in 2024 in Garut, Padang Sidempuan, Bondowoso, Demak, Pangkalan Bun.

In addition, RAAM is aiming to increase revenue this year by releasing 10 new films on various Over The Top (OTT) platforms. In addition, the company will produce 180 hours of soap operas.

“It is currently under preparation and hopefully it will go ahead as planned,” said Tripar Multivision Plus Founder and Chief Commissioner, Raam Punjabi.

He added, in terms of genre, the company will issue several versions, such as 1 comedy film, 4 horror films, and 2 drama genre films. The new issuer who will use the RAAM stock code hopes that his new films will be well absorbed by audiences in Indonesia.

“We always have the hope that the audience will reach 5 million,” said Raam Punjabi.

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.

[Gambas:Video CNBC]

(chd/chd)