A substantial negotiated transaction was recorded in the shares of petrochemical company PT Chandra Asri Pacific Tbk (TPIA), which is known as one of the listed companies controlled by Indonesian conglomerate Prajogo Pangestu.

In the negotiated market, TPIA shares were traded with a total transaction value of approximately Rp8.8 trillion. The transaction involved around 91.46 million lots of shares exchanged at a price of Rp962 per share. As of now, there has been no disclosure regarding the brokerage firm that facilitated the transaction or the specific purpose behind it.

Following news of the transaction, TPIA’s share price surged by 13.45% and closed at Rp1,560 per share at the end of today’s first trading session. As a result, the company’s market capitalization reached Rp134.96 trillion.

Recently, TPIA shares were reported to have been pledged as collateral by PT Barito Pacific Tbk (BRPT) and Prajogo Pangestu. The company’s management confirmed that a portion of the shares owned by its controlling shareholders had been pledged to several lending banks.

In a disclosure submitted to the Indonesia Stock Exchange (IDX) on Tuesday, May 26, 2026, management stated that based on information received from the relevant shareholder up to the date of the letter, the company’s principal shareholder, PT Barito Pacific Tbk (BRPT), had pledged TPIA shares as collateral to creditor banks.

According to the disclosure, BRPT pledged 2 billion TPIA shares to PT Bank Negara Indonesia (Persero) Tbk (BBNI) on September 21, 2021. In addition, 175 million TPIA shares were pledged to PT Bank Tabungan Negara (Persero) Tbk (BBTN) on December 24, 2024.

Furthermore, Prajogo Pangestu, acting as the ultimate beneficial owner, pledged an additional 1.5 billion TPIA shares to HSBC on November 17, 2023.

As a result, the total number of TPIA shares pledged as collateral reached 3.67 billion shares, representing approximately 4.24799% of the company’s total issued and fully paid-up shares.