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Indonesia's Richest Man Sells Stakes to Meet Share Rules

4/10/2026

24 2 Full Breakdown

Summary

Story summary

Prajogo Pangestu, Indonesia's richest man, has begun selling small stakes to meet new public-share rules.
He sold a 0.56% stake in Petrindo Jaya Kreasi and part of his stake in Barito Renewables Energy.
The moves aim to boost these companies' free float before a May regulator deadline to avoid an MSCI downgrade.
The Indonesia Stock Exchange requires listed firms to raise public trading shares to 15% within three years.

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Story summary

Prajogo Pangestu, Indonesia's richest man, has begun selling small stakes to meet new public-share rules.
He sold a 0.56% stake in Petrindo Jaya Kreasi and part of his stake in Barito Renewables Energy.
The moves aim to boost these companies' free float before a May regulator deadline to avoid an MSCI downgrade.
The Indonesia Stock Exchange requires listed firms to raise public trading shares to 15% within three years.