Prajogo Pangestu Aggressively Sells CUAN Shares, Pockets Hundreds of Billions

Jakarta, CNBC Indonesia - Conglomerate Prajogo Pangestu has reduced his ownership stake in the listed company PT Petrindo Jaya Kreasi Tbk (CUAN). As the controlling shareholder of CUAN, he sold 386.28 million shares.

According to disclosures from the Indonesia Stock Exchange (BEI), the share sales transactions occurred between 30 April and 4 May 2026 across five separate deals.

Details of the transactions: The first saw Prajogo offload 66.03 million shares at Rp1,267 per share on 30 April 2026. Then, 86.05 million shares at Rp1,221 per share on 30 April 2026.

Subsequently, 12 million shares at Rp1,187 per share on 4 May 2026. Next, 94.18 million shares at Rp1,180 per share on 4 May 2026. Finally, 128 million shares at Rp1,202 per share on 4 May 2026.

All transactions were executed with direct ownership status and are intended to increase the company’s free float on the market.

As a result, from the CUAN share sales, Prajogo pocketed around Rp466.3 billion.

Consequently, Prajogo Pangestu’s shareholding in CUAN automatically decreased from the previous 91.78 billion shares, equivalent to 81.6415%, to 91.39 billion shares, or approximately 81.2979%.