Prajogo Sells 386.28 Million CUAN Shares for Profit, What's Going On?

PT Petrindo Jaya Kreasi Tbk (CUAN) has announced that its controlling shareholder and conglomerate, Prajogo Pangestu, has reduced his ownership in the company by 386.28 million shares. According to disclosures from the Indonesia Stock Exchange (BEI), the share sales were executed over the period from 30 April to 4 May 2026 in five separate transactions. The details are as follows: the first transaction 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 conducted with direct ownership status and aimed at increasing the company’s free float portion in the market. As a result, Prajogo pocketed around Rp466.3 billion from the CUAN share sales. Consequently, Prajogo Pangestu’s shareholding in CUAN automatically decreased from the previous 91.78 billion shares or equivalent to 81.6415% to 91.39 billion shares or approximately 81.2979%.