JAKARTA - PT MD Pictures Tbk (FILM) has used all of the funds obtained from its IPO on 25 July 2018 (Rp 267.69 billion) for working capital and to invest in its subsidiaries.
Venkatachari Soundararajan, Director of PT MD Pictures Tbk (FILM), said that 77.03% of the IPO funds were used as working capital, and the remaining 22.97% were used for investment in subsidiaries.
The company used the funds to cover expenses for writers, copyrights, directors, artists, crew, equipment rental, production, promotion, soundtrack, and operational. The company also invested in PT Studio Tujuh, PT PAW PIC Studio Indonesia, PT Mix Entertainment, and PT Barakuda Film Galeri Indonesia. (LK/AR)