Alam Sutera (ASRI) Controller Sells Shares, Ownership Stake Decreases

PT Alam Sutera Realty Tbk. (ASRI) has announced that PT Manunggal Prime Development, its controlling entity, has offloaded 76.48 million shares in the property developer. According to data from the Indonesian Central Securities Depository (KSEI), the sale was conducted via PT Ciptadana Sekuritas Asia, PT Maybank Sekuritas Indonesia, and PT Indopremier Sekuritas. This transaction has reduced PT Manunggal Prime Development’s holdings from 4,596,343,564 shares as of 17 March 2026 to 4,519,863,564 shares as of 25 March 2026. Consequently, its ownership stake has automatically decreased to 23% from the previous 23.39%. For context, PT Manunggal Prime Development is owned by the Ning King family. In 1994, the Argo Manunggal Group acquired development rights for a vast area in Serpong and established Alam Sutera. The company is an integrated property developer in Indonesia, managing residential areas, commercial districts, industrial zones, shopping centres, recreational facilities, and hospitality venues. In the three days following the long Eid holiday, ASRI shares have traded in positive territory. From 25 to 27 March, up to 10:10 WIB, ASRI shares rose 5.6% to 132. However, over the past month, ASRI shares have experienced a 20% correction.