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CDIA Hits Upper Limit for 3 Consecutive Days, Prajogo Pangestu Reclaims Title as Indonesia’s Richest Person
Shares of PT Chandra Daya Investasi Asia Tbk (CDIA) have hit the upper auto-rejection limit (ARA) for three consecutive trading days since making their debut on the Indonesia Stock Exchange. The sharp rise in the stock price has significantly boosted the wealth of majority owner Prajogo Pangestu, propelling him back to the top spot as the richest person in Indonesia.
MARKETS
7/11/20251 min read
CDIA shares have soared following an IPO that was heavily oversubscribed, with 125 million lots booked and a total transaction value of Rp 3.2 trillion. Investor enthusiasm has been driven by the company’s promising outlook in the energy and infrastructure sectors, as well as Prajogo’s successful track record across various industries.
According to the Bloomberg Billionaires Index, the surge in CDIA stock has significantly increased Prajogo's net worth, surpassing other leading tycoons in the country. Analysts say the rally reflects growing market optimism toward renewable energy and infrastructure—key focus areas for CDIA.
Investors are now closely watching CDIA’s stock movement, with market observers predicting continued volatility in the coming days.