JAKARTA – Shares of energy companies owned by Happy Hapsoro, PT Rukun Raharja Tbk (RAJA) and its subsidiary PT Raharja Energi Cepu Tbk (RATU), experienced significant surges by the close of the first trading session on Monday (17/2).

Happy Hapsoro is the husband of Puan Maharani, the Speaker of the People's Representative Council (DPR). According to data from the Indonesia Stock Exchange (IDX), RAJA's stock surged by 10.42% to IDR 3,920 per share, while RATU's stock hit the upper limit of the auto-rejection band (ARA), rising by 19.87% to IDR 9,350 per share.

In an IDX disclosure, PT Sentosa Bersama Mitra, the controlling shareholder of RAJA, purchased 35.73 million RAJA shares on January 30, 2025 at IDR 2,000 per share, lower than the market price, which ranged between IDR 3,920 and IDR 4,070 per share. The total amount spent on this transaction was IDR 71.47 billion.

Yuni Pattinasarani, Corporate Secretary of RAJA, explained that the purpose of this stock purchase was for investment. Following the transaction, Sentosa Bersama Mitra increased its shareholding to 1.52 billion shares, or 36.07%, up from 1.48 billion shares, or 35.23%.

"RAJA and RATU stocks are aiming to regain their bullish momentum after experiencing some corrections. Over the past week, RAJA shares have risen by 11.05%, while RATU has gained 19.49%," she said.

Since its debut on the stock exchange on 8 January 2025, RATU has surged by 713.04% from the IPO price of IDR 1,150 per share to IDR 9,350 by the end of the first trading session today (17/2). (DK/ZH)