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1.42 billion of MD Pictures' shares were sold below market price

11 May 2020 06:35

JAKARTA. As many as 1.42 billion PT MD Pictures Tbk (FILM) shares were sold below the market price at Rp 86 per share by PT MD Graha Utama, FILM's majority shareholder.

According to the information disclosure on the Indonesia Stock Exchange, shares sold by MD Graha Utama were purchased by another FILM shareholder, MD Global Media. Manoj Dahmoo Punjabi, Director of MD Graha Utama and MD Global Media, said that the transaction was done to support the company's business strategy.

After the transaction, MD Graha Utama owned 4,215,627,300 shares of FILM, equivalent to 44.32% of FILM's total shares. Meanwhile, MD Global Media owns 3,804,486,800 shares or equivalent to 40% of FILM's total shares.

According to the data compiled by idnfinancials.com, FILM's share price closed at Rp.119 per share on Friday (8/5). (KR/AR)

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