Conglomerate's Shares Under Correction, Suddenly a Jumbo Transaction Emerges

PT Indah Kiat Pulp & Paper Tbk (INKP) recorded a jumbo transaction value in the negotiation market during the first trading session today, Friday (8/5/2026). A total of 1.6 billion shares changed hands at an average price of 9,500. This figure is above INKP’s market price in the first session. The total transaction value reached Rp 1.6 trillion. However, as of the publication of this news, the purpose and the party behind the transaction are not yet known. For information, INKP shares faced price pressure throughout the first session. INKP opened at the level of 9,450, stagnant compared to the previous day’s price. It briefly touched the green zone but ultimately closed at the level of 9,125 or down 3.44% at the lunch break. INKP is a paper producer affiliated with the Sinar Mas conglomerate group. Based on the Monthly Securities Holder Registration Report ending on 31 March 2026, the ultimate beneficial owner of INKP is the third generation of Sinar Mas, namely Jackson Wijaya Limantara. He controls INKP through PT APP Purinusa Ekapersada with a 58.31% ownership. In addition, INKP is also held by PT Cakrawala Mega Indah and PT Wirakarya Sakti with ownership of 0.2% and 0.19% respectively. Both companies are affiliated with the controller.