Hendro S. Gondokusumo, CEO of property developer PT Intiland Development (DILD), recently sold a significant portion of his shareholding in the company.
On October 29, 2024, he offloaded 260 million shares at Rp200 each, totaling Rp52 billion (US$3.3 million).
Following the sale, Hendro’s stake dropped from 2.51 percent to around 50,000 shares. He explained the sale as a “divestment step” to adjust his investment portfolio.
On Tuesday, November 5, 2024 afternoon, Intiland’s stock had dropped by 4 points or 2.21 percent, reaching Rp177 per share from its earlier trading levels.
PT Intiland Development, founded in 1983 and originally named PT Wisma Dharmala Sakti, is a major player in Indonesia’s real estate market.
The company focuses on developing residential, office, retail, and industrial properties, primarily in Jakarta and Surabaya, East Java. It went public in 1991 and rebranded to its current name in 2007.
