JAKARTA — Business magnate Prajogo Pangestu has further reduced his stake in PT Petrindo Jaya Kreasi Tbk. (CUAN), offloading 386.27 million shares in a strategic move to boost the company’s public free float. This latest divestment by the Barito Group leader took place between late April and early May 2026.
According to official disclosures filed with the Indonesia Stock Exchange (IDX), Prajogo sold exactly 386,277,500 shares of CUAN during the period of April 30 to May 4, 2026. This tactical reduction follows a recent report showing that Petrindo Jaya Kreasi posted a net profit of US$134.56 million in 2025, marking a 16.3% decline from the previous year.
Following these transactions, Prajogo’s ownership in the company has decreased to 91,394,285,500 shares, representing 81.29% of voting rights, down from his previous holding of 91,780,563,000 shares, or 81.64%.
In a statement submitted to the Financial Services Authority (OJK) on Thursday (May 7, 2026), the company’s management confirmed that the primary objective of this divestment is to increase the volume of shares available for public trading.
The breakdown of the sales shows a series of strategic trades: on April 30, 2026, Prajogo sold 66,033,800 shares at a price of Rp1,267 per share and 86,057,700 shares at Rp1,221 per share. He continued the sell-off on May 4, 2026, disposing of 12,000,000 shares at Rp1,187, 94,186,000 shares at Rp1,180, and 128,000,000 shares at Rp1,202. Collectively, these transactions generated approximately Rp467.98 billion in fresh liquidity for the investor.
This recent activity builds upon earlier efforts to adjust the company’s capital structure. In mid-April 2026, Prajogo divested 57.15 million CUAN shares. According to IDX data from Wednesday (April 22, 2026), that transaction occurred between April 16 and 17, 2026, with a total volume of 57,156,700 shares sold.
Prior to that mid-April divestment, Prajogo’s ownership stood at 92,620,628,900 shares (82.38% voting rights). Following the mid-April sale, his position dropped to 92,563,472,200 shares (82.33% voting rights), netting him an estimated Rp90.07 billion. Together, these consecutive sell-offs underscore the ongoing commitment to increasing Petrindo Jaya Kreasi’s market liquidity.
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Summary
Business magnate Prajogo Pangestu has reduced his stake in PT Petrindo Jaya Kreasi Tbk. (CUAN) by selling 386.27 million shares between April 30 and May 4, 2026. This strategic divestment aims to boost the company’s public free float. Following these transactions, Prajogo’s ownership in CUAN decreased from 81.64% to 81.29%.
These sales generated approximately Rp467.98 billion for Prajogo, building on an earlier divestment of 57.15 million CUAN shares in mid-April 2026. The consecutive sell-offs underscore an ongoing commitment to increasing Petrindo Jaya Kreasi’s market liquidity. This activity comes after the company reported a 16.3% decline in net profit in 2025.
