A Glimpse into the Market Capitalization of Indonesian Wealthy Individuals' Listed Companies: Prajogo Pangestu

Prajogo Pangestu has become Indonesia's richest person with a remarkably rapid increase in wealth. According to Forbes' release on Friday, December 8, 2023, his net worth is recorded at US$43.7 billion, or Rp678.72 trillion (assuming an exchange rate of Rp15,531 per US$).

Prajogo ranks second among Indonesia's wealthiest individuals, behind the Hartono brothers, whose combined wealth amounts to US$48 billion, or approximately Rp745.50 trillion. Bloomberg even reported that Prajogo's wealth has increased the most rapidly globally year-to-date (YTD) by 379% until November 2023.

(Read also: [link to article about Prajogo's wealth increase])

Based on data compiled by Katadata, the key to Prajogo Pangestu's wealth lies in the funds generated from his publicly listed companies.

These companies include PT Petrindo Jaya Kreasi Tbk (CUAN), PT Chandra Asri Petrochemical Tbk (TPIA), PT Barito Renewables Energy Tbk (BREN), PT Petrosea Tbk (PTRO), and PT Barito Pacific Tbk (BRPT).

Below are the share values and market capitalizations of Prajogo Pangestu's listed companies as of Friday, December 8, 2023.

* PT Barito Renewables Energy Tbk (BREN)

Based on RTI Business data, BREN has the largest market capitalization among Prajogo Pangestu's other listed companies, reaching Rp1,076.98 trillion.

This market capitalization places BREN as the second largest in Indonesia, nearly surpassing BCA (BBCA) which holds the top spot with a value of Rp1,078.66 trillion.

The last recorded share price for BREN was Rp8,050 per share. The circulating share volume reached 50.22 million shares with a frequency of over 20,000 times and a transaction value of Rp403.55 billion.

* PT Chandra Asri Petrochemical Tbk (TPIA)

TPIA has a market capitalization of Rp406.6 trillion. Its share price is Rp4,700 per share.

The volume of TPIA shares traded reached 171.63 million shares with a frequency of over 59,000 times. The transaction value reached Rp813.48 billion.

* PT Barito Pacific Tbk (BRPT)

BRPT has a market capitalization of Rp164.06 trillion. Its share price is Rp1,750 per share.

The volume of BRPT shares traded reached 1.38 billion shares with a frequency of over 168,000 times. The transaction value reached Rp2.39 trillion.

* PT Petrindo Jaya Kreasi Tbk (CUAN)

CUAN has a market capitalization of Rp121.41 trillion. Its current share price is Rp10,800 per share.

The volume of CUAN shares traded reached 14.03 million shares with a frequency of over 12,000 times. The transaction value was recorded at Rp147.58 billion.

* PT Petrosea Tbk (PTRO)

Finally, PTRO has a market capitalization of Rp7.06 trillion. Although its market capitalization is the lowest, PTRO's share price is quite high at Rp7,000 per share.

The number of PTRO shares traded reached 27.36 million, with a frequency of over 18,000 times. The transaction value reached Rp197.41 billion.

(Read also: [link to article about BREN's market capitalization])