Jakarta – PT Barito Renewables Energy Tbk (BREN) explained the shares of this renewable energy issuer were excluded from the FTSE Russell Index starting Wednesday, September 25, 2024.
Merly, Director and Corporate Secretary of Barito Renewables said that currently, most of BREN’s shares are controlled by four main shareholders: PT Barito Pacific Tbk (BRPT), Green Era Energy Pte Ltd (GE), Jupiter Tiger Holdings, and Prime Hill Funds.
Merly said the four shareholders have been present since the initial public offering (IPO). “At the time of the IPO, share ownership by the four shareholders was as disclosed in the Registration Statement, prospectus, and other documents for the IPO,” Merly said in an information disclosure on Monday, September 23.
However, she explained that there was a change in the percentage of BREN’s share ownership in the four shareholders. During the IPO, the four owned 97% of BREN shares, but a change was now recorded at 95.97%.
“At the time of the IPO, the composition of share ownership by the four shareholders was 97%, and until today there have been changes,” said Merly.
She explained that the share ownership of PT Barito Pacific Tbk (BRPT) and Green Era Energy Pte Ltd (GE), 64.6% and 23.6% respectively, had not changed. As for Jupiter Tiger Holdings and Prime Hill Funds, there was a change that these two entities held shares of 3.94% and 3.76%, respectively.
Merly added that the control and affiliation status of the four shareholders had been submitted during the IPO. “We do not add new information because everything follows the applicable provisions and rules and is revealed in the relevant reports,” she said.
Then, regarding free float, Merly emphasized that Barito Renewables has complied with the rules recorded until September 19, 2024, when the number of shares that meet the free float reached 15.6 billion shares, or equivalent to 11.66%. This number exceeds the required minimum of 50 million shares and 7.5% of total shares.
“This amount has not changed significantly compared to the percentage of free float based on the IPO prospectus, which states that the number of free float shares is 15,694,413,334 or 11.73%,” he said.
According to him, the company will continue to monitor compliance with the free float rules set by the Indonesia Stock Exchange (IDX).
In today’s trading, BREN shares fell significantly again and touched the lower auto rejection limit (ARB), recording a weakening of 19.83% to 7,075.
The fall in share price has caused Barito Renewables’ market capitalisation to continue to decline and is now at IDR 946.54 trillion. (hs)
