JAKARTA. Image Frame Investment (HK) Limited, shareholder of PT MD Entertainment Tbk (FIlM), has sold 251,667,000 shares or 3% of FILM shares.

The sale of FILM shares was carried out by Image Frame Investment at a price of IDR 1,200 per share. With this selling price, Tencent's business unit reaped fresh funds of IDR 302 billion from the sale of FILM shares.

"The aim of the transaction is partial investment realization with direct ownership status," said Fidela Hasworini, Corporate Secretary of FILM.

In stock trading last Thursday (21/11), FILM's share price closed up 5.28% to IDR 3,590 per share. With this reference, film shares are sold by Image Frame Investment at a discount of more than 50%.

According to idnfinancials.com data, Image Frame Investment started collecting FILM shares in 2021, buying up 1,390,950,000 shares. This amount is equivalent to 14.62% of FILM's outstanding shares.

The purchase of FILM shares by Image Frame Investment at that time was carried out at a price of IDR 500 per share. The total funds spent by Image Frame Investment to purchase FILM shares amounted to IDR 695.48 billion.

However, with a selling price of IDR 1,300 per share, which was held on November 12 2024, Image Frame Investment made a profit of up to 140% of the purchase price of FILM shares. The total funds raised by Image Frame Investment from the sale of FILM shares amounted to IDR 302 billion. (KR/LM)