Hapsoro Sells 17 Million Shares of Bukit Ulluwatu Villa (BUVA)
Jakarta — Hapsoro sold 17 million shares in Bukit Ulluwatu Villa (BUVA) on 11 March 2026. Consequently, his shareholding in the company declined from 60.85 million shares (0.25%) to 43.85 million shares (0.18%).
According to disclosure of material facts released on Friday (13 March 2026), the transaction was executed at a price of Rp 1,600 per share, above the market trading price on that day.
Hapsoro is estimated to have pocketed Rp 27.2 billion from the share disposal.
During the transaction, BUVA closed up 0.94% at the level of 1,070. BUVA traded in the range of 1,060–1,135.
Hapsoro is the ultimate beneficial owner of BUVA. He holds BUVA shares directly and also through PT Nusantara Utama Investama (61.64% stake).
Meanwhile, the Jakarta Composite Index (IHSG) declined 3% towards the close of the second session. At 15:20, the IHSG closed down 3% at the level of 7,141.46.
A total of 671 shares fell, 103 rose, and 184 remained unchanged. Transaction value reached Rp 10.98 trillion, involving 21.51 billion shares across 1.33 million transactions.
The IHSG correction coincided with market participants’ anxiety over oil supply amid the ongoing conflict between Iran, the United States, and Israel. Oil prices have surged more than 38% in less than two weeks owing to serious threats to global supply lines.
Brent crude oil reached US$100.72 per barrel, whilst West Texas Intermediate (WTI) stood at US$95.37 per barrel.
The surge was driven by attacks on two tanker ships and oil port facilities in Iraqi waters, which sparked concerns over navigation safety in the Strait of Hormuz. Iranian military officials have even warned that oil prices could skyrocket to US$200 per barrel.
In a related development, amid large-scale military operations launched by the United States and Israel, US intelligence indicates that the current structure of Iran’s government leadership remains intact and far removed from the risk of collapse. The report affirms that the regime in Tehran maintains full control over its population.
The position of supreme leader has also been taken over by Khamenei’s son, Mojtaba, to maintain stability. On the other hand, Kurdish Iranian militia groups have offered to assist in a rebellion, but this option was rejected by President Donald Trump, as intelligence doubted their weaponry capacity.
According to the latest reports, Mojtaba stated in his first public address since being elected supreme leader of Iran that the Strait of Hormuz must remain closed. This is being applied to use it as a tool to pressure enemies.