Petrindo Jaya (CUAN) Secures Approval for 1:10 Stock Split, Shares Surge on Growth Outlook
Main Takeaways
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JAKARTA, investortrust.id – PT Petrindo Jaya Kreasi Tbk, or CUAN, has secured shareholder approval to proceed with a 1:10 stock split, aiming to boost liquidity and widen access for retail investors. The move, ratified at an extraordinary general meeting on Monday, June 30, 2025, will take effect on Thursday, July 10.
Shares of the Barito Group-affiliated mining company surged 5.66% to Rp 12,600 on the day of the announcement. On a monthly basis, CUAN has gained 11.75%, reflecting growing investor enthusiasm for the upcoming corporate action.
According to Hendra Wardana, capital market analyst and founder of Stocknow.id, the stock split is a strategic step that aligns with CUAN’s ongoing expansion in the mining and energy sectors. He said the reduced nominal price post-split would likely increase retail participation while enhancing trading liquidity.
Technically, CUAN is testing a resistance level at Rp 13,375. A breakout could propel the stock toward Rp 14,500–15,000 before the stock split takes effect. Post-split, the adjusted share price is projected to settle between Rp 1,300 and Rp 1,500, with room to rise to around Rp 1,800 in the medium term.
CUAN’s long-term prospects remain bright. The company, controlled by Indonesian tycoon Prajogo Pangestu, boasts a diversified mining portfolio that spans thermal coal, metallurgical coal, gold, and silica sand. Through subsidiaries such as POSB and ISP, CUAN is also active in mining services and infrastructure, positioning itself across the value chain.
Hendra recommends a gradual accumulation strategy for new investors ahead of the stock split or a “buy on breakout” approach. For existing shareholders, he advises holding the stock while applying a trailing stop strategy to protect profits.