Sujaka Lays Sells 1.3 Billion COAL Shares, What's Going On?

PT Black Diamond Resources Tbk. (COAL) has announced that Sujaka Lays, the company’s controlling shareholder, has significantly reduced its shareholding. According to disclosures to the Indonesia Stock Exchange (BEI), Sujaka Lays conducted sales transactions from April to May 2026. These sales were carried out in stages, with a total of seven share sales on the market. The details are as follows: the first and second sales took place on 9 and 10 April 2026, each involving 80 million shares at prices of Rp56 and Rp55 per share. The largest transaction occurred on 14 April 2026, with a volume of 370 million shares at Rp56 per share. Subsequent sales were made on 15 to 16 April 2026, totalling 130 million shares, and on 17 April 2026, 150 million shares, all at around Rp55 per share. Finally, on 4 May 2026, a sale of 430 million shares was recorded at Rp60 per share. In total, these transactions resulted in the release of 1.37 billion shares. Based on the respective transaction prices, the total proceeds from the share sales amount to approximately Rp77.95 billion. Following the transactions, Sujaka Lays’ shareholding has dropped significantly from 1.91 billion shares, or 30.60%, to 542.79 million shares, equivalent to 8.68%.