Hendra Hasan Kustarjo has divested all of his shareholdings in PT Black Diamond Resources Tbk. (COAL). He sold his entire stake after holding it for approximately one year.
According to data from the Indonesia Central Securities Depository (KSEI), Hendra Hasan Kustarjo first appeared on the list of shareholders with more than 5% ownership on April 27, 2023.
Hendra Hasan sold 1.4 billion shares, representing over 22% of his stake in COAL. He conducted the sales in three transactions on February 12, 2024.
A total of 1.15 billion shares were sold at a price of Rp 60, 180.5 million shares at Rp 80, and 64.5 million shares at Rp 81. Consequently, Hendra pocketed Rp 88.96 billion from all of these transactions.
When compared to the April 2023 prices, Hendra sold the shares below the purchase price. It is worth noting that there was a rally in COAL stock prices in the second quarter of 2023. At that time, COAL briefly reached a price of Rp 155 at the end of April 2023.
However, the COAL shares consistently experienced a correction afterward. On the last trading day of the past week, Friday (8/3/2024), COAL shares remained stagnant at the floor level.