Several stocks of companies affiliated with Indonesian tycoon Prajogo Pangestu are observed to have not yet met the minimum public shareholding (free float) requirement set by the Indonesia Stock Exchange (IDX) as of January 29, 2026.
As background, the IDX’s decision aligns with the Financial Services Authority (OJK) and other self-regulatory organizations (SROs), which raised the minimum free float requirement from 7.5% to 15%.
This policy adjustment follows a warning from Morgan Stanley Capital International (MSCI) regarding the lack of transparency in share ownership data in Indonesia’s stock market.
Free float refers to the portion of shares owned by the public, excluding shares held by controlling shareholders, majority shareholders, commissioners, directors, and company employees. These shares are fully held by public investors, each owning less than 5% individually.
Based on data compiled by Databoks from the IDX on Tuesday (February 3, 2026) at 1:00 p.m. Jakarta time, only three out of six Prajogo-affiliated stocks have a free float exceeding 15%.
The three stocks are PT Petrosea Tbk (PTRO), PT Barito Pacific Tbk (BRPT), and PT Petrindo Jaya Kreasi Tbk (CUAN).
Meanwhile, the company with the lowest public ownership is PT Chandra Daya Investasi Tbk (CDIA), a newly listed subsidiary that debuted in July 2025.
The free float composition is calculated based on scripted (warkat) and scripless (non-warkat) public shareholdings.
Below is the breakdown of public share ownership (free float) of Prajogo Pangestu–affiliated companies as of Tuesday (February 3, 2026):
Public (scripless): 2,941,994,430 shares (29.17%)
Public (scripted): 92,394,000 shares (0.92%)
Total free float: 30.09%
- PT Barito Pacific Tbk (BRPT)
Public (scripless): 26,224,142,185 shares (27.98%)
Public (scripted): 580,914,947 shares (0.62%)
Total free float: 28.60%
- PT Petrindo Jaya Kreasi Tbk (CUAN)
Public (scripless): 17,870,683,000 shares (15.89%)
Public (scripted): 0
Total free float: 15.89%
- PT Barito Renewables Energy Tbk (BREN)
Public (scripless): 16,454,300,534 shares (12.30%)
Public (scripted): 0
Total free float: 12.30%
- PT Chandra Asri Pacific Tbk (TPIA)
Public (scripless): 9,233,241,772 shares (10.68%)
Public (scripted): 0
Total free float: 10.68%
- PT Chandra Daya Investasi Tbk (CDIA)
Public (scripless): 12,447,587,500 shares (9.97%)
Public (scripted): 0
Total free float: 9.97%.