Flooring Guide by Cinvex – , JAKARTA – The ongoing sell-off of shares in PT Bumi Resources Tbk. (BUMI), a prominent coal issuer associated with both the Bakrie and Salim Groups, by Chengdong Investment Corporation continues to be a significant market event.
Recent data from PT Kustodian Sentral Efek Indonesia (KSEI), cited on Sunday (October 26, 2025), reveals that Chengdong most recently divested 81.50 million BUMI shares on October 23, 2025.
Following this transaction, Chengdong’s total holding in BUMI has decreased substantially to 32.88 billion shares, which now represents an 8.86% stake in the company.
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This recent activity follows another significant sale by Chengdong, which offloaded 41.33 million BUMI shares on Tuesday (October 21, 2025). This pattern underscores a consistent strategy of reducing its stake.
According to Bisnis records, Chengdong had already sold approximately 3.71 billion BUMI shares during the period from June 12, 2025, to October 9, 2025.
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These substantial sales were executed at an average price ranging from Rp112.06 to Rp152.44 per share. This divestment trend is not new; Chengdong had previously initiated a gradual sale of 2.53 billion BUMI shares from December 2024 through June 2025, with transaction prices varying from Rp108 to Rp143 per share.
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In a statement, Qingsong Zhang, Chairman and Chief Executive Officer of China Investment Corporation (CIC), clarified that this series of share sales is not part of a repurchase agreement, which is a short-term securities transaction with a predetermined price. The company has explicitly stated its intention not to maintain controlling interest, signaling that the ongoing divestment by Chengdong is likely to continue.
Zhang further explained, “The sale of BUMI shares by Chengdong caused the percentage of voting rights held by CIC in BUMI (through its indirect subsidiaries, as further explained in section 9 of this report below) to reach 8.99% on October 9, 2025, after the sale of 50,846,800 shares at an average price of 145.42 on that date.”
On the Indonesia Stock Exchange (IDX), BUMI shares closed at Rp134 at the end of trading on Friday (October 24, 2025). This closing price reflects an impressive 8.94% increase for the year-to-date period of 2025.
Bumi Resources Tbk. – TradingView
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Summary
Chengdong Investment Corporation is consistently divesting its stake in PT Bumi Resources Tbk. (BUMI). On October 23, 2025, Chengdong sold 81.50 million BUMI shares, reducing its total holding to 32.88 billion shares, or an 8.86% stake. This followed another sale of 41.33 million shares on October 21, 2025, continuing a long-term strategy of reducing its ownership.
Chengdong has executed substantial sales since late 2024, with transaction prices ranging from Rp108 to Rp152.44 per share. Qingsong Zhang, Chairman of China Investment Corporation, clarified these sales are not repurchase agreements and signal an intention not to maintain a controlling interest in BUMI. BUMI shares closed at Rp134 on October 24, 2025, marking an 8.94% year-to-date increase for 2025.