Judul : Akan Stock Split, Will the Second Richest Person in Indonesia Buy/Sell the Stock?
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Akan Stock Split, Will the Second Richest Person in Indonesia Buy/Sell the Stock?
Best for you.CO.ID - JAKARTA . One of the shares owned by the second richest person in Indonesia, Prajogo Pangestu, will undergo a stock split or stock split . Stock split will make the stock price cheaper. Before stock split, Does the investor need to buy or sell these shares?
Prajogo Pangestu is an entrepreneur with a fortune of about US$25.7 billion as of June 2025. Prajogo Pangestu's wealth is only surpassed by Low Tuck Kwong, the owner of PT Bayan Resources, who has a fortune of about US$27.3 billion.
Prajogo Pangestu has businesses in the petrochemical and energy sectors. One of Prajogo Pangestu's companies that will carry out a stock split is PT Petrindo Jaya Kreasi Tbk ( CUAN )
Manajemen CUAN sudah mendapat restu dari pemegang saham untuk stock split with a ratio of 1:10. The stock split of CJUAN will take effect starting July 10, 2025.
At the closing of Wednesday's trading (2/6), CUAN stock prices were at 12,050, down 750 points or 5.86% per share compared to the previous day's trading.
If referring to today's closing trade, the CUAN stock has the potential to drop from Rp 12,050 per share to Rp 1,205 per share.
"Through this stock split, Petrindo's investor base is expected to become stronger and more diversified, thus forming a solid foundation for the company to gain support from various parties to further expand its business in the future," said Kartika Hendrawan, Director of Petrindo Jaya Kreasi, in a press release received by Best for You on Monday (6/30).
She added that this stock split is carried out to make CUAN's stock price more affordable, thereby increasing the number of investors who can trade the shares of the company affiliated with the Prajogo Pangestu conglomerate.
In addition, the number of CUAN shares will also increase. As a result, the liquidity of CUAN stock trading will increase, and the trading of the company's stocks on the BEI will become more active.
Stock recommendation CUAN
Market capital practitioners and Founder of WH-Project William Hartanto believes that the stock price of CUAN has indeed risen significantly and may no longer reflect its fundamental condition or overvalue .
Namun, perlu diingat juga bahwa tren pergerakan harga saham sebenarnya tidak harus sejalan dengan kondisi fundamental maupun perkembangan kinerja bisnisnya.
“Dalam hal ini saham CUAN masih dalam tren naik,” imbuh dia, Senin (30/6).
He also mentioned that stock splits carried out by companies essentially only change the nominal value of the shares, but do not necessarily change the price movement trend of the relevant company's shares. The shares of CUAN can still continue to rise in price after the stock split becomes effective.
CUAN is also one of the mining companies whose stock price movement does not always follow the movement of commodity prices.
According to William, since the beginning, the rise of CUAN stock was not caused by commodity price sentiment, but rather due to the figure of Prajogo Pangestu and the track record of Barito Group stocks that often surged significantly.
As a note, CUAN shares have gained 250 points or 2.12% year to date (ytd) or from the start of 2025. Meanwhile, on a yearly or year on year (yoy) basis, the stock of this issuer has surged 21.41%.
William recommends buying CUAN stock with a target price of Rp 14,000 per share.
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