Jakarta, CNBC Indonesia – Two shares of companies belonging to the Mahaka Group which were established by SOE Minister Erick Thohir, PT Mahaka Media Tbk (ABBA) and its subsidiary PT Mahaka Radio Integra Tbk (MARI) again jumped to become top gainers in early trading today, Tuesday (27/7/2021 ).
The increase in the two stocks continued their strengthening on the previous two days or since Friday (23/7) last week.
According to data from the Indonesia Stock Exchange (IDX), at 10:05 WIB, ABBA and MARI shares managed to rank third and fourth in the top gainers this morning.
ABBA’s shares rose 20.37% to Rp 650/share with a transaction value of Rp 59.02 billion, after yesterday touching the auto rejection (ARA) of 25.00%.
With this, in a week ABBA shares soared 101.86%, while in a month ‘flying’ 173.11%. The market capitalization value (market cap) of ABBA shares reached Rp 1.80 trillion.
The jump in ABBA’s shares since last week occurred amid the company’s plan to issue new shares with Pre-emptive Rights (HMETD) aka rights issue.
For three dollars, MARI’s shares also rose 10.71% to Rp 496/share with a transaction value of Rp 140.56 billion. With this, MARI shares have gone up for 3 consecutive days, namely on Friday (23/7) by 4.02% and Monday (26/7) yesterday which reached 8.21%.
As a result, in a week MARI’s shares have shot up 34.05%, while in a month it has soared 55.00%, with a market cap value of Rp 2.63 trillion.
On Wednesday last week, ABBA announced plans to increase capital with a scheme rights issue a maximum of 1.20 billion shares.
Referring to the prospectus published by ABBA, the nominal value of the rights issue is Rp 100 per share. ABBA’s corporate actions have also received the approval of shareholders.
Management stated that the additional capital will be carried out according to the company’s capital requirements. The rights issue will be held no later than 12 months from the date of approval of the General Meeting of Shareholders (GMS).
Meanwhile, the impact of this corporate action on the company’s financial condition can strengthen the company’s capital structure, develop business activities, improve performance, increase investment, and other purposes to support business growth, so that it will have a positive effect on the company’s financial condition.
“This additional capital has an effect on the company’s shareholders who do not exercise their rights, the percentage of share ownership will be diluted,” said ABBA management, quoted Wednesday (21/7/2021).
The plan is that the proceeds from the rights issue will be used for working capital for the company and its subsidiaries as well as investment in the digital technology sector through subsidiary business development, new investments, application development, and hardware purchases.
Meanwhile, MARI will hold the General Meeting of Shareholders (GMS) and Extraordinary General Meeting of Shareholders (EGMS) on 26 August in Jakarta.
In addition to the agenda for the EGMS-EGMS, there is the latest news, namely MARI the arrival of a new shareholder of PT Asuransi Jiwa Generali Indonesia.
Data on shareholders above 5% released by the Indonesian Central Securities Depository (KSEI) shows that as of July 13, 2021, Generali Insurance holds 5.05% of MARI’s shares.
Previously, on July 12, 2021, Generali Insurance did not hold 5% of MARI’s shares.
Currently, Generali Insurance holds 314 million shares in MARI or equivalent to 5.98%, which means that the Italian insurance company has added its share ownership in MARI since July 13. It’s just that it has not been revealed how much the investment value will be.
MARI manages a number of radios, including PT Radio Attahiriyah, PT Suara Irama Indah, PT Radio Camar, PT Radio Mustang Utama, PT Radio Ramako Djaja Raya, and PT Mahaka Radio Digital.
CNBC INDONESIA RESEARCH TEAM
(adf/adf)
– .
