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…
