Massive Rp800 Billion Negotiated Transaction in Conglomerate Shares

Jakarta — PT XLSmart Telecom Sejahtera Tbk (EXCL) recorded a significant transaction in the negotiated market during the first trading session on Friday, 13 March 2026.

According to Indonesia Stock Exchange (BEI) trading data, the negotiated transaction value for EXCL shares reached approximately Rp800 billion with an average price of Rp2,800 per share.

Transaction volume was recorded at 2,857,143 lots, equivalent to approximately 285.7 million shares changing hands in a single transaction.

As of the time this article was written, the parties involved in the jumbo EXCL share transaction remain unknown. However, transactions worth hundreds of billions of rupiah in the negotiated market are often related to ownership transfers by major investors or institutional portfolio restructuring.

Following the transaction, EXCL shares settled at the 2,740 level, declining 2.84% or 80 points during the first session.

As of 28 February 2026, the ultimate beneficial owners of EXCL are Axiata Group Berhad and Franky Oesman Widjaja. Axiata Investment holds 34.69% of shares.

The Sinar Mas group owns EXCL through three companies: PT Bali Media Telekomunikasi (24.57%), PT Global Nusa Data (4.66%), and PT Wahan Inti Nusantara (2.85%).

Meanwhile, the Composite Stock Price Index (IHSG) declined 1.81% or 133.18 points to the 7,228.94 level at the end of the first session on Friday, 13 March 2026.

A total of 625 shares gained value, 136 declined, and 197 remained unchanged. Trading in the first session was relatively quiet with a value of Rp7.39 trillion, involving 15.64 billion shares across 923,900 transactions. Market capitalisation contracted further to Rp12.865 trillion.

Since morning, the IHSG consistently remained in negative territory. The Index experienced notably high volatility, at one point falling more than 2% to its lowest point at 7,188.08.