Officially Entered The Stock Exchange, Cinema XXI Shares Had Strengthened To 13.33 Percent

Cinema XXI illustration (Photo: dock. Cinema XXI)

JAKARTA - PT Nusantara Sejahtera Raya Tbk (CNMA), which is the manager of Cinema XXI, has officially been listed on the Indonesia Stock Exchange (IDX). CNMA's share price has strengthened since it opened today, Wednesday, August 2.

Citing transaction data, CNMA's share price at 10:51 WIB rose 22 points or 8.15 percent to Rp292. As for its movement, CNMA shares were highest at the level of Rp306 or rose 13.33 percent and the lowest was Rp270.

Being the 53rd listed company on the IDX in 2023, CNMA's trading frequency reached 62,598 transactions. The trading volume reached IDR 14.41 billion.

CNMA is engaged in the Consumer Cyclicals sector and the Consumer Services sub-sector. The CNMA industry is Tourism & Recreation with the Recreational & Sport Facilities sub-industry. CNMA's share offering price is worth IDR 270 per share with 83.345 billion shares recorded, so the market capitalization is worth IDR 22.5 trillion.

Along with the Initial Public Offering, the Company held an Employee Stock Allocation or ESA program by allocating 0.13 percent of the total shares offered in the Initial Public Offering or 11.112,000.

All funds obtained from the Initial Public Offering, after deducting the costs of the Emissions, 65 percent will be used for funding the development and expansion of the Cinema XXI cinema network in Indonesia.

The development and expansion of cinema networks will be carried out through the construction of cinemas and/or new theaters to increase the number of XXI Cinema screens, as well as the purchase of image and voice projection equipment with the latest technology and other equipment needed for the construction.

Meanwhile, approximately 20 percent will be used by the Company for early payments for part of the principal debt to PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), which as of May 12, 2023, the total principal loan is IDR 1.4 trillion. The company will make payments for part of BRI Loans, so that the Company's balance of obligations after payment will be IDR 962,969 million.

The remaining 15 percent will be used by the Company for working capital, including but not limited to purchasing goods and services in order to support XXI Cinema business activities.