JAKARTA - After the change in the composition of share ownership which increased the free float to around 25.7 percent, TPIA shares are considered to have greater appeal for institutional investors.
Senior Investment Information Mirae Asset Sekuritas Indonesia Nafan Aji Gusta, said that the increase in TPIA's free float to 25.7 percent was certainly responded positively by market participants, because with a larger public share, the liquidity of TPIA's stock trading will also increase.
"Stocks are becoming more actively traded and more attractive to institutional investors," said Nafan when contacted by reporters, Monday, June 15.
According to him, institutional investors such as pension funds, investment managers, and global funds generally have certain criteria in investing, one of which is related to the level of free float.
"When the free float is above a certain threshold, for example above 15 percent, then the shares become more worthy of being included in their investment radar," he said.
Nafan explained, with the current conditions, the opportunity for large funds or big money to enter TPIA shares is becoming more open.
In addition, Nafan said, free float is also one of the important variables in calculating the weight of global indices such as MSCI and FTSE.
Thus, the increasing share of public shares has the potential to increase the weight of TPIA in these indices.
"If that happens, it can trigger buying from passive funds which make MSCI and FTSE as investment benchmarks," said Nafan.
Furthermore, he said, the increase in TPIA's free float also added investor confidence in the company when carrying out corporate actions to obtain funding, for example through rights issues and bond issuance.
"With a wider investor base and better stock liquidity, the company's opportunities to obtain market support will be greater," said Nafan.
Previously, in the information disclosure dated May 27, 2026, the Indonesia Stock Exchange (IDX) announced 26 issuers that were included in the Main Board list, including TPIA from the previous record on the Development Board.
Responding to this, the President Director & CEO of the Chandra Asri Group, Erwin Ciputra, expressed his appreciation to the IDX for the trust given to the Company.
"We are grateful to the Indonesia Stock Exchange for the trust given through the review of the status of listing of TPIA shares to the Main Board.
"This achievement reflects the Company's commitment to strengthening business fundamentals, implementing good governance, and maintaining sustainable growth," said Erwin.
Erwin added that the listing on the Main Board is an opportunity for the Chandra Asri Group to continue to create long-term value for shareholders and stakeholders through the strengthening of the energy, chemical, and infrastructure business portfolios.
"In the future, we will continue to focus on strengthening operational performance, improving competitiveness, sustainable business development, and creating jobs. Through our growth strategy, we are committed to strengthening the Company's fundamentals while creating long-term value for all shareholders and stakeholders," concluded Erwin.
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