Pursuing Free Float Targets, Haji Isam's Children to Divest 4.8% of PGUN Shares

Jakarta, CNBC Indonesia - PT Pradiksi Gunatama, Tbk (PGUN), an issuer owned by the family of Haji Isam, has revealed plans to divest shareholdings to meet the latest minimum free float requirements. In the first stage, the controlling shareholder intends to release 4.88% of PGUN shares.

Donisius G, the Finance and Accounting Manager of Pradiksi Gunatama, stated that the company’s nearest corporate action will be the divestment of a portion of the founders’ shares to satisfy free float regulations. “In the initial stage, we will release approximately 4.8% to the public or non-affiliated parties,” Doni disclosed during the Indonesia Stock Exchange (BEI) Live Public Expose on Tuesday (9/6/2026).

Doni expressed confidence that the 4.8% divestment would not impact PGUN’s operational performance or share value, as the transaction does not constitute a material transaction and the Ultimate Beneficial Owner (UBO) will maintain a dominant stake.

According to the IPO prospectus, Haji Isam is not listed as the UBO; instead, ownership is held by his two children. The prospectus notes that the company’s controllers are Liana Saputri and Jhony Saputra, who are siblings. Prior to the IPO, the siblings indirectly controlled 50% of PGUN each.

As of 31 May 2026, the controlling entities of PGUN are PT Araya Argo Lestari and PT Citra Agro Raya, holding 38.44% and 38.25% respectively. The remainder of the shares are held by PT Baramega Cipta Mulia Persada at 15.69%, with the public holding 7.62%.

With public ownership currently at only 7.62%, PGUN’s controllers must divest shares to reach the new minimum free float targets. Under Indonesia Stock Exchange (BEI) regulations, issuers with a market capitalisation exceeding Rp5 trillion are required to achieve a minimum free float of 12.5% by 2027 and 15% by 2028.