Secret Jumbo Transaction of Rp 18.8 Trillion in Conglomerate's Shares

A jumbo transaction occurred in the shares of PT FAP Agri Tbk. (FAPA), an oil palm industry issuer, during this morning’s trading on Thursday (26/3/2026). A total of 28,870,682 lots of FAPA shares changed hands at an average price of Rp 6,500. Thus, the total transaction value reached Rp 18.8 trillion. As of this report, the purpose and the parties behind the transaction remain unknown. Alongside this jumbo transaction, FAPA shares rose 1.52% to Rp 6,700. Over the past month, FAPA shares have climbed 7.63%. For information, FAP Agri is a company owned by the Fangiono conglomerate family. As of 28 February 2026, Wirastuty Fangiono is recorded as the ultimate beneficial owner of FAPA. She controls FAP Agri through Prinsep Management, which holds 79.31% of the company’s shares. Citing Forbes data, the Fangiono family is one of Indonesia’s conglomerate families. They are listed as the 27th richest with total assets of US$3.05 billion or Rp 51.54 trillion (exchange rate Rp 16,900). Meanwhile, the jumbo transaction took place amid a plunge in the Composite Stock Price Index (IHSG) at the start of morning trading today. At 10:17 WIB, the IHSG fell 85.81 points or -1.18% to 7,216.31. A total of 338 shares declined, 318 rose, and 302 remained unchanged. The transaction value reached Rp 23.8 trillion, involving 14.76 billion shares in 698,300 transactions. Initially, the IHSG opened in positive territory. The index opened up 0.16% or strengthened 11.54 to 7,313.66. However, it began to correct within five minutes of opening.