Business · Companies · 13 hrs ago
Low Tuck Kwong Buys 100.5 Million Bayan Shares, Then Sells 650 Million
Low Tuck Kwong bought 100.5 million shares in Indonesian coal company Bayan Resources on Oct.
13 and 14, paying Rp 11,200 per share.
The purchases lifted his voting stake from 9.95% to 10.25%.
On Oct.
15, he sold about 650 million shares at Rp 2,588 each, reducing his stake to 8.30%.
His daughter Elaine also sold about 16.7 million shares that day, trimming her stake slightly to 22%.
The buyer of Low's latest sale was not identified, so it cannot be confirmed as part of the deal involving businessman Haji Isam's company, Jhonlin Baratama.
The proposed deal covers about 10 billion Bayan shares, or roughly 30% of the company, but its completion depends on conditions being met.
Accounts differ on whether that deal has already been completed, so its status remains unclear.
Low Tuck Kwong bought 100.5 million shares in Bayan Resources on 13 and 14 October 2026, then reported selling 650,000,032 shares on 15 October.
The purchases were made at Rp11,200 per share, while the reported sale was at Rp2,588 per share.
After the sale, his direct holding fell to 2,766,667,800 shares, or 8.30% of voting rights.
His daughter, Elaine Low, also sold 16,666,668 shares on 15 October at Rp2,588 each.
Reports differ on the status of a separate deal involving Jhonlin Baratama: one describes a conditional agreement still awaiting conditions, while another reports a completed acquisition of 30.25% of Bayan.
- Who
- Low Tuck Kwong, a Bayan Resources executive and shareholder, bought and sold shares. His daughter Elaine Low also sold shares.
- What
- Low bought 100.5 million Bayan shares, then reported selling 650,000,032 shares.
- When
- He bought shares on 13 and 14 October 2026 and reported the sale on 15 October.
- Where
- The transactions involved PT Bayan Resources Tbk shares in Indonesia.
- Why
- The sale was recorded as a divestment. The sources do not state a further reason.
This story does not have two clearly opposing sides.
Low bought 500,000 Bayan shares at Rp11,200 per share.
Low bought another 100,001,000 shares at Rp11,200 per share.
Low reported selling 650,000,032 shares at Rp2,588 per share, and Elaine Low reported selling 16,666,668 shares at the same price.
- Low's purchases
- 100.5 million shares on 13–14 October 2026
- Purchase price
- Rp11,200 per share
- Low's reported sale
- 650,000,032 shares on 15 October 2026
- Sale price
- Rp2,588 per share
- Low's holding after sale
- 2,766,667,800 shares, or 8.30% of voting rights
- Elaine Low's sale
- 16,666,668 shares at Rp2,588 each