Jakarta—PT Barito Renewables Energy Tbk (BREN) shares will become residents of the Financial Times Stock Exchange (FTSE) Russel global index after previously failing to become constituents of the index because they were included in the special full call auction (FCA) monitoring board on the Indonesia Stock Exchange (IDX).
In an official announcement on Monday, August 26, FTSE placed BREN shares and PT Bank Syariah Indonesia Tbk (BRIS) shares as new residents in the large-cap group.
The change will take effect on September 23, 2024. However, that result is still subject to change until September 6, before it becomes final on September 8, 2024. Further changes will usually be considered in exceptional circumstances as per FTSE Russell’s recalculation policies and guidelines.
Since the beginning of this year, BREN shares have appreciated by 30.43%. For six months, the shares of the issuer of the Prajogo Pangestu group conglomerate have appreciated by 94.03%.
The management of PT Barito Renewables Energy Tbk said that including the company’s shares in the FTSE Index is an important recognition of the company’s long-term vision in encouraging Indonesia to have zero emissions.
The inclusion of BREN shares in the FTSE Russell Index also recognises, from global exchanges, Barito Renewables Energy’s dedication to diversifying its renewable energy portfolio, especially through strategic acquisitions in the wind energy sector that complement the foundation of the company’s geothermal business.
In addition, the inclusion of BREN shares in the FTSE Global Equity Index is expected to broaden the company’s investor base and provide opportunities for investors to participate in the growth of Barito Renewables Energy’s business. (hs)
