JAKARTA — Tycoon Prajogo Pangestu has divested 1 billion shares of PT Petrindo Jaya Kreasi Tbk. (CUAN), totaling a transaction value of Rp1.03 trillion.
According to an information disclosure filed with the Indonesia Stock Exchange (IDX), the shares were sold at a price of Rp1,035 per share. Management stated that the primary objective of this transaction is to increase the company’s free float, aiming to boost liquidity in the market.
Following the sale, which netted approximately Rp1.03 trillion, the company’s ownership structure has shifted. Prajogo Pangestu now holds 90.35 billion shares of CUAN, equivalent to an 80.37% stake, down from his previous position of 91.35 billion shares or 81.26% ownership.
The market reaction to the news was swift. On Wednesday (May 13, 2026), CUAN shares closed at Rp850, marking a sharp decline of 10.05% for the day. This drop follows a period of market volatility, during which Prajogo Pangestu’s total wealth previously saw a significant reduction of Rp31 trillion due to MSCI rebalancing impacts.
Despite the recent dip, Petrindo Jaya Kreasi currently maintains a market capitalization of Rp95.56 trillion. As of March 31, 2026, the company’s free float was recorded at 14.94%, representing 16.79 billion shares. Data as of April 30, 2026, shows that the number of shareholders reached 102,948, reflecting a steady increase in the shareholder base compared to the previous month.
Disclaimer: This news article is for informational purposes only and does not constitute an invitation to buy or sell shares. Investment decisions are solely the responsibility of the reader. The publisher is not liable for any financial losses or gains resulting from investment decisions made based on this content.
Summary
Tycoon Prajogo Pangestu has sold one billion shares of PT Petrindo Jaya Kreasi Tbk. (CUAN) for a total transaction value of Rp1.03 trillion. The sale was conducted at a price of Rp1,035 per share, with the primary objective of increasing the company’s free float to enhance market liquidity. Following this divestment, Pangestu’s ownership stake in the firm decreased from 81.26% to 80.37%.
The announcement triggered a market reaction, with CUAN shares closing 10.05% lower at Rp850 per share on Wednesday. Despite this decline and recent volatility, the company retains a market capitalization of Rp95.56 trillion. As of late April 2026, the company continues to see growth in its shareholder base, which has expanded to over 102,900 investors.
