TP Rachmat Divests 42 Million ESSA Shares, Pockets Nearly IDR32.9 Billion

Jakarta — Conglomerate TP Rachmat has divested a portion of its shareholding in PT ESSA Industries Indonesia Tbk (ESSA), selling 42.23 million shares. The share sale transaction was conducted on 5 March 2026.

According to Indonesia Stock Exchange (IDX) disclosure, the share sale transaction was executed in seven separate tranches at prices ranging from IDR765 to IDR795 per share.

The breakdown is as follows: 7,842,900 shares at IDR765 per share, 2,580,600 shares at IDR775 per share, 2,564,100 shares at IDR780 per share, and 5,194,800 shares at IDR770 per share.

Additionally, 11,392,200 shares were sold at IDR790 per share, 2,473,900 shares at IDR795 per share, and 10,190,700 shares at IDR785 per share.

Overall, the value of the share sale transaction was estimated at approximately IDR32.96 billion.

The purpose of the transaction is divestment.

As a result, Rachmat’s ownership stake has decreased to 1,182,110,356 shares, or 6.86%, from the previous 1,224,349,556 shares, equivalent to 7.11%.

Meanwhile, ESSA declined 1.95% in trading yesterday to the level of 755. However, over the past month the share has risen 21.77%.