South China Morning Post
Indonesia’s richest man has begun selling small stakes in his listed companies as tighter ownership rules push firms to increase shares available to public investors. Billionaire Prajogo Pangestu sold a 0.56 per cent stake in coal and mining holding Petrindo Jaya Kreasi to boost the company’s free float, according to a stock exchange filing late Thursday. Prajogo-affiliated Green Era Energy this week also sold a fraction of its stake in his Barito Renewables Energy. Regulators are fast-tracking...
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