Jakarta—PT Barito Renewables Energy Tbk (BREN) shares weakened on Thursday, October 3, contributing to the decline in the Indonesia Composite Index (IDX Composite). At the close of trading on Thursday, the shares of this renewable energy issuer were 6,850, or 1.79% lower.
Stockbit Indonesia data shows that conglomerate Prajogo Pangestu bought back shares of PT Barito Renewables Energy Tbk (BREN) as many as 113.32 thousand lots or 11.33 million BREN shares, with the broker used during the purchase, Bahana Sekuritas, on Wednesday, October 2.
Based on the data, Prajogo bought BREN shares at IDR 6,788 per share. If calculated, Prajogo spent Rp 76.91 billion in the transaction.
However, the purchase data was only recorded in one transaction through Bahana. Meanwhile, Prajogo’s buying of BREN shares is said to be in several transactions, so the amount and value must be even greater.
The weakening of BREN shares also caused the JCI to close in the red zone, falling 0.26% to 7,543.82.
The reddening of BREN shares on Thursday occurred after the Financial Services Authority (OJK) stated that it would take firm action against two companies owned by conglomerate Prajogo Pangestu, PT Barito Renewables Energy Tbk and PT Petrindo Jaya Kreasi Tbk (CUAN), if violations were found in trading on the capital market.
OJK Executive Head of Capital Market Supervision, Derivative Finance and Carbon Exchange Inarno Djajadi said the two issuers’ examination is ongoing. According to him, the authority is conducting an in-depth examination, including examining indications of quasi-trading or other market manipulation. (hs)
