Prajogo Sells Rp1 Trillion in CUAN Shares Amid Price Plunge

Jakarta, CNBC Indonesia — Prajogo Pangestu offloaded 1 billion shares of PT Petrindo Jaya Kreasi Tbk (CUAN) on 11 May 2026 amid sharp pressure on the issuer’s stock in the market.

According to the share ownership report to the Financial Services Authority (OJK), Prajogo sold 1 billion CUAN shares at a price of Rp1,035 per share, with a transaction value of around Rp1.03 trillion.

Notably, the transaction took place as CUAN shares plunged 8.04% during trading on 11 May 2026. Based on trading data, CUAN shares closed at Rp1,030, down 90 points from the previous level of Rp1,120. The shares reached a daily high of Rp1,130 and a low of Rp1,010.

Thus, the sale transaction price was slightly above the market closing price on the same day.

Following the transaction, Prajogo Pangestu’s shareholding in CUAN decreased from 91.35 billion shares to 90.35 billion shares, or from 81.26% to 80.37%.

Nevertheless, Prajogo remains the controlling shareholder of the company and has stated that he continues to maintain control over CUAN.

In the disclosure of information, the purpose of the transaction was stated as increasing the proportion of free float shares in the market.

Meanwhile, CUAN shares fell 10% to Rp850 in yesterday’s trading. This was in line with the MSCI announcement removing three Prajogo emitters from the Global Standard index.

Year-to-date, CUAN shares have already experienced a sharp correction of 62.88%. In the last five trading days alone, CUAN shares have plunged 33.07%.

Following Prajogo’s sale of 1 billion shares, CUAN has declined 17.48%.