Flooring Guide by Cinvex — Jakarta: Tycoon Prajogo Pangestu has offloaded 1 billion shares of PT Petrindo Jaya Kreasi Tbk. (CUAN), generating proceeds of approximately Rp1.03 trillion.
According to the official disclosure filed with the Indonesia Stock Exchange (IDX), the transaction was executed at a price of Rp1,035 per share. Management stated that the strategic move was aimed at increasing the company’s free-float shares.
Following the sale, CUAN shares faced significant downward pressure, closing at Rp850 per share on Wednesday, May 13, 2026. This represents a sharp decline of 10.05% within a single trading session. This market movement coincides with broader challenges for the tycoon, as Prajogo Pangestu’s personal wealth recently saw a reduction of Rp31 trillion due to MSCI index rebalancing.
Despite the divestment, Petrindo Jaya Kreasi Tbk. maintains a solid market capitalization of Rp95.56 trillion. As of March 31, 2026, the company reported a free-float ratio of 14.94%, equivalent to 16.79 billion shares. Furthermore, the shareholder base continues to grow, with 102,948 investors holding CUAN stock as of April 30, 2026, marking an increase from the previous month.
Post-transaction, Prajogo Pangestu remains the controlling stakeholder, holding 90.35 billion shares or an 80.37% stake in the company. This is a slight decrease from his previous holding of 91.35 billion shares, which accounted for 81.26% of the company’s ownership.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice or an invitation to buy or sell securities. Investment decisions are the sole responsibility of the reader. The publisher is not liable for any financial losses or gains resulting from the use of this information.
Summary
Tycoon Prajogo Pangestu has sold 1 billion shares of PT Petrindo Jaya Kreasi Tbk. (CUAN) for approximately IDR 1.03 trillion. The transaction, executed at IDR 1,035 per share, was conducted strategically to increase the company’s free-float portion. Despite this divestment, Pangestu remains the controlling shareholder, retaining an 80.37% stake in the firm.
Following the announcement, CUAN shares experienced a significant 10.05% decline, closing at IDR 850 per share. The company currently maintains a market capitalization of IDR 95.56 trillion and a growing base of over 102,000 investors. This market volatility coincides with broader financial challenges facing Pangestu, including recent impacts from MSCI index rebalancing.