Stock Exchange Monitors NET TV Stock Transaction Pattern, Television Station Owned By Indika Group Conglomerate Agus Lasmono Sudwikatmono

Illustration. (Photo: Doc. Antara)

JAKARTA - The shares of PT Net Visi Media Tbk (NETV) aka NET TV are being monitored by the Indonesia Stock Exchange (IDX). This is because the television shares owned by conglomerate Agus Lasmono Sudwikatmono are moving out of the ordinary (unusual market activity/UMA).

Since being officially listed on the IDX on January 26, NETV's stock movements have been fairly attractive. Having shot up 226.53 percent in 5 trading days from the initial price of IDR 196 to IDR 640, NETV shares began to be sold by investors.

As a result, for the next six trading days, NETV's share price fell 33.12 percent to the level of Rp428.

Furthermore, NETV rose 49.3 percent in two trading days to the level of IDR 665, then fell 1.5 percent to the level of IDR 655 on February 15. As for trading on Thursday, February 17, NETV's shares fell 5.44 percent to the level of IDR 695.

Seeing this movement, IDX stated that NETV had UMA status. However, the announcement of UMA does not necessarily indicate a violation of the laws and regulations in the Capital Market sector.

"In connection with the UMA occurrence on NETV shares, we need to convey that IDX is closely monitoring the development of this share transaction pattern," wrote a letter signed by the Head of the IDX Transaction Supervision Division, Lidia M Panjaitan, and the Head of IDX's Trading Operational and Regulatory Division, Irvan Susandy.

Therefore, IDX urges investors to pay attention to Net TV's response to the Exchange's confirmation request, observe its performance and disclosure of information, review Net TV's corporate action plan if the plan has not been approved by the GMS, and consider various possibilities that may arise in the future before make investment decisions.

As is known, the parent company of the national broadcaster NET, PT Net Visi Media Tbk (NETV), was officially listed on the IDX on Wednesday, January 26. In its initial public offering, the issuer with the stock code NETV released its shares to the public at a price of IDR 196 per share.

NETV offers a maximum of 765,306,100 new shares or the equivalent of 4.37 percent of the issued and fully paid capital after the IPO. From the initial public offering, the television station which is under the auspices of the Indika Group owned by conglomerate Agus Lasmono Sudwikatmono is targeting the acquisition of funds during the initial offering period (book building) of IDR 149.99 billion.