Jakarta – The Financial Services Authority (OJK) stated that it is still conducting efforts to examine the indications of false trading or manipulation in the stock market against PT Barito Renewables Energy Tbk (BREN) shares. Deputy Commissioner for Investment Management Supervision of Capital Markets and Securities Institutions of OJK Aditya Jayaantara said that the examination is being conducted from various aspects.
“(The examination of BREN shares) has been carried out for several weeks,” said Aditya at the Indonesia Stock Exchange (IDX) Building Jakarta, Wednesday, October 9. He said that OJK’s examination of BREN stock trading targeted various transaction patterns and periods. “We check the periods,” said Aditya.
However, he could not confirm when the results of the examination of Barito Renewables Energy’s share trading transactions would be completed.
Previously, OJK’s Chief Executive of Capital Market Supervision, Derivative Finance and Carbon Exchange, Inarno Djajadi, said any findings on examining BREN’s share trading transactions will be evaluated following applicable regulations and standards. If there are proven violations, OJK will enforce strict laws per applicable laws and regulations.
BREN shares had previously recorded a surge in share prices since it was listed on the IDX last year. Barito Renewables Energy carried out an initial public offering (IPO) at Rp780 per share, and after the IPO until September 2024, BREN shares jumped significantly to 12,100, or an increase of up to 1,451%.
However, BREN shares cannot bounce back after being thrown out of the FTSE Russell Index in September 2024.
BREN shares again ended in the red zone on Wednesday or closed down 1.49% to 6,600. The weakening was in line with the depressed movement of the Indonesia Composite Index (IDX), which closed down 0.74% to 7,501.28. (hs)
