JAKARTA – Shares of PT Solusi Sinergi Digital Tbk (WIFI) have surged significantly in recent times. Investor enthusiasm has grown following the entry of prominent businessman Hashim Djojohadikusumo, alongside promising business expansion prospects.

According to data from the Indonesia Stock Exchange (IDX), WIFI shares jumped 6.78% to IDR 1,890 per share by the close of the first trading session on Thursday (20/2), with a total share transaction value of IDR 176.68 billion.

Looking back, within the past month up until Thursday morning's session, WIFI shares have soared by 91.88%. Even more impressively, the share price has climbed by 360.98% year-to-date (ytd) since the start of 2025.

Hashim's entry into the company about a month ago is believed to be the main catalyst for the sharp increase in the share price of this fibre optic network issuer. It is worth noting that Hashim entered as an investor in WIFI through PT Arsari Sentra Data, which purchased 45% of the shares in PT Investasi Sukses Bersama (ISB), the controlling shareholder of WIFI, last January.

Last week (11/2), Prabowo Subianto’s younger brother acquired additional WIFI shares via ISB, purchasing 6.08 million shares at a price of IDR 1,530 per share. This purchase is estimated to have a total transaction value of IDR 9.3 billion.

Shannedy Ong, Director of WIFI, stated in a written announcement on Thursday (12/2) that this corporate action is aimed at strengthening ISB’s investment portfolio and enhancing its strategic position in the digital infrastructure business.

As a result of this transaction, ISB's ownership in WIFI increased to 50.36%, or approximately 1.19 billion shares, up from the previous 50.11%. (EF/ZH)