Son Of Conglomerate Prajogo Pangestu Spends IDR 247 Billion To Increase Share Ownership In Chandra Asri

JAKARTA - The son of Prajogo Pangestu conglomerate, Baritono, purchased shares in PT Chandra Asri Petrochemical Tbk. The total value disbursed by Baritono was IDR 247.94 billion.

Quoted from the information disclosure page of the Indonesia Stock Exchange (IDX), Baritono bought 24,500 shares of the issuer coded TPIA. The transaction was carried out on February 23, 2021, at a purchase price of IDR 10,120 per share.

"The purpose of the transaction is an investment and direct ownership status", said Baritono.

The total share ownership of Baritono after the transaction in the company founded by tycoon Prajogo Pangestu is still zero points a certain percentage.

Currently, Baritono is the Deputy President Director of Chandra Asri Petrochemical. On the trading floor, at the close of trading today Thursday, March 4, TPIA shares were at the level of IDR 9,725 per share or fell 0.51 percent.

For information, Prajogo Pangestu has three children. Baritono himself is the youngest child of the 3rd richest person in Indonesia.

Prajogo's eldest son, Agus Salim Pangestu, is the President Director of PT Barito Pacific Tbk. Meanwhile, the second child, Nancy Pangestu, is known to live in Singapore.

Chandra Asri is a supplier of petrochemical products to various Indonesian manufacturing industries. The company produces products and resins including Monomer, Polyethylene, and Polypropylene. Chandra Asri is included in the group of companies owned by the Barito Pacific conglomerate.