Expanding its business, FILM to hold a rights issue
JAKARTA – PT MD Pictures Tbk (FILM) seeks additional fresh funds in a rights issue to expand its business related to the film and studio industry. In the said arrangement, the company plans to issue 1,902,243,400 shares of IDR 100 each.
Fidela Hasworini, Corporate Secretary of MD Pictures, confirmed that the number of shares offered in the rights issue would be equal to a maximum of 20% of its entire issued and paid-up capital, amounting to 9,511,217,000 shares. “The plan will be executed within 12 months at the latest after gaining approval from the Extraordinary General Shareholders Meaning on May 25, 2022,” she added in the information disclosure quoted Monday (18/4).
FILM is currently expanding its business beyond the big-screen industry to raise additional income. For instance, it explores over-the-top (OTT) contents, original OTT series, library, and movie licenses. Several multi-year license contracts had been secured by the company with online platforms, including Viu, WeTV, Netflix, iFlix, Vidio.com MOX, and MAXStream.
The capital structure as of March 2022 consists of authorised capital of IDR 2 trillion, issued and paid-up capital of IDR 951.12 billion, and portfolio of IDR 1.04 trillion worth of stock. The shareholders are PT MD Global Investment of 50.50%, Manoj Dhamoo Punjabi of 22.23%, Morgan Stanley and Co International of 15.10%, Shania Manoj Punjabi of 0.20%, David Eliot Umer, Jr of 0.00%, and the public of 11.97%. (LK/ZH)