In fact, after the suspension lock was opened, OMRE’s share price yesterday jumped 6.73% to Rp 1,665 per share. On Tuesday (13/12), OMRE shares once again shot up to the Rp. 1,830 area, before finally closing down 0.30% to a level of Rp. 1,660 per share.

Previously, the IDX rewarded OMRE shares with a temporary suspension of trading (suspension), due to a significant increase in cumulative prices. The suspension will take place from the first trading session on December 2, 2022.

Research Analyst Infovesta Kapital Advisori Arjun Ajwani reminded investors to be wary of the movement of shares that have just been suspended. Moreover, the suspension imposed due to a surge in stock prices that moved unnaturally or was included in the Unusual Market Activity (UMA) category.

Arjun sees that the significant increase in OMRE’s share price since the end of November has not been accompanied by positive catalysts, both fundamentally and technically. Thus, the OMRE share price has the opportunity to move volatile, and has the potential to decline again.

“Unless there is positive sentiment that drives the share price further up. In the short term, it will still be volatile with a low level of liquidity,” explained Arjun when contacted by Kontan.co.id, Tuesday (13/12).

Just so you know, since June 2022, OMRE shares have been more stuck at the price level of IDR 500. However, there was a significant jump in November to break the price level of Rp 1,000 per share.

The IDX also suspended OMRE shares on November 14 2022, then reopened the following day. On November 30, OMRE shares were able to shoot up 25%, then rose another 24.80% on December 1 to a price of IDR 1,560.

Henan Putihrai Sekuritas analyst Jono Syafei estimates that the recent spike in share prices could be a market response to the corporate action held by OMRE. The action is in the form of a rights issue.

As is known, last October OMRE announced that it would hold a Capital Increase with Pre-emptive Rights (PMHMETD). The rights issue is carried out by issuing a maximum of 1.2 billion new Series B shares.

The price for the rights issue is set at Rp 500 per share. As a result, from this rights issue, OMRE is targeting to raise up to Rp 600.27 billion in funds.

The plan to use the proceeds from the rights issue is intended to settle OMRE’s debt to PT Manning Development of Rp 577.58 billion. The rest will be used as working capital.

According to Arjun, the sentiment from the rights issue should not have boosted share prices to a very significant level. If you have strong fundamentals, the share price of the issuer holding the rights issue will rebound in the short term after a temporary correction.

“Investors need to be vigilant. After a certain amount of time, this stock could drop to the level before the price increase at the beginning of November,” said Arjun.

Considering this, Arjun also suggested selling OMRE shares. Whereas. Jono doesn’t have a recommendation for OMRE yet. He only reminded market players to be more careful if they want to collect volatile stocks like those that have been hit by this suspension.

MNC Sekuritas Technical Analyst Herditya Wicaksana added that historically, OMRE stock movements tended to be sideways with volatile volumes.

On another note, be aware of the stochastic which is prone to deadcross. So Herditya advised market players to sell on strength first in OMRE shares.

Source : Kontan

The post After Suspension, Beware of Volatility in Indonesia Prima Property (OMRE) Shares appeared first on Amora Escapes.

The right issue targets registered shareholders on December 27, 2022. Each owner of 5,000 old shares will receive 3,439 pre-emptive rights (HMETD). Each HMETD can be used to purchase one new share at the exercise price.

According to a statement on November 8, 2022, First Pacific Capital Group Limited, as the company’s shareholder with 78.24 percent ownership, will exercise part of its rights worth IDR 70 billion or 140 million shares with payment for implementation in cash.

Meanwhile, PT Manning Development, a shareholder with 4.40 percent ownership, will take part in his rights, namely 52.86 million shares valued at IDR 26.43 billion. As a standby buyer, Manning Development will take part of the Preemptive Rights not taken by other shareholders for a maximum of IDR 503.67 billion or 1 billion shares.

So, the total number of new shares that will be acquired by Manning Development, both as a result of exercising its rights and as a standby buyer, is a maximum of 1,060,211,000 series B shares valued at IDR 530 billion. This was done by converting part of the company’s debt to Manning Development. The company’s total debt as of June 30 2022 was IDR 577.58 billion.

If the shareholders do not exercise their rights, they will be subject to a maximum dilution of ownership of 40.75 percent after the rights issue. The proceeds from the rights issue for the settlement of the company’s debt to PT Manning Development amounted to IDR 577.58 billion. Namely non-cash deposits by converting the company’s debt to PT Manning Development as of June 30 2022 in the amount of IDR 577.58 billion. If there are remaining cash funds for the company’s working capital.

The schedule for Indonesia Prima Property’s rights issue is as follows. Effective date December 5, 2022. Regular market cum right and negotiation on December 23, 2022. Cash market cum right on December 26, 2022. Regular market ex right and negotiation on December 26, 2022. Cash market ex right on December 27, 2022. Shareholders are entitled to rights issue on December 27, 2022.

Distribution date on 28 December 2022. Listing on the IDX on 29 December 2022. Trading period from 29 December 2022 to 5 January 2023. The implementation period starts from registration, ordering and payment on 29 December 2022 to 5 January 2023. Submission of new shares resulting from the rights issue on 3-11 January 2023. The last date for payment for the purchase of additional shares on 12 January 2023.

The allotment date of the additional shares purchase order on January 13, 2023. The distribution of additional shares on January 16, 2023. Full payment by the standby buyer on January 16, 2023. Refund of the additional shares purchase order was not fulfilled on January 16, 2023. (*)

Source : Emiten News

The post Take a peek at the schedule, Indonesia Property (OMRE) Right Issue IDR 600 Billion appeared first on Amora Escapes.