Prajogo Chandra Asri Issuer (TPIA) Boosts Public Float to 25.7%
PT Chandra Asri Pacific Tbk (TPIA), an entity owned by conglomerate Prajogo Pangestu, has increased its public float to approximately 25.7%. This change follows a shareholding rebalancing transaction by one of the Company’s long-term shareholders, SCG Chemicals Public Company Limited (SCGC).
The President Director & CEO of Chandra Asri Group, Erwin Ciputra, stated that this increase in free float not only supports compliance with capital market regulatory requirements but also strengthens share liquidity, enhances the Company’s attractiveness to investors, and supports long-term value creation for shareholders. “This increase is expected to expand stock trading liquidity and broaden access for both domestic and international investors,” he said in an official statement on Monday.
He explained that the transaction is part of SCGC’s capital allocation, including efforts to strengthen capital structure and reallocate capital to support core business development and strategic growth initiatives. Following the transaction, SCGC holds approximately 15.71% of Chandra Asri Group’s shares and remains one of the Company’s long-term strategic shareholders.
“SCGC is a long-term shareholder and strategic partner that has contributed significantly to the growth journey of Chandra Asri Group. This transaction reflects SCGC’s capital allocation priorities and does not change the strategic direction, governance, or the Company’s commitment to creating sustainable growth,” Ciputra explained.
Management emphasised that the transaction does not result in any material changes to the control, governance structure, management, or operational activities of Chandra Asri Group. “We remain focused on executing the Company’s transformation and rejuvenation agenda alongside the strengthening of our energy, chemical, and infrastructure business portfolio in Southeast Asia,” he added.
Following this transaction, the three main strategic shareholders of Chandra Asri Group—PT Barito Pacific Tbk, SCGC, and Thaioil Public Company Limited—collectively hold approximately 74.3% of the Company’s shares.