Jakarta – Shares of renewable energy issuer PT Barito Renewables Energy Tbk (BREN), throughout Friday, November 8, consistently moved in the green zone and closed trading at 6,875, or a significant increase of 14.58%.
BREN shares also supported the Indonesia Composite Stock Price Index (IDX Composite), which also ended in the green zone, strengthening 0.6% to 7,287.19.
With today’s strengthening, Barito Renewables’ shares were recorded to have strengthened 2.61% during the week, with a market capitalisation value of IDR 919.78 trillion.
BREN shares rallied Friday following a statement by the Financial Services Authority (OJK), which has examined BREN’s stock trading in the alleged manipulation or quasi-transactions carried out by affiliated parties. “Based on the results of the OJK examination so far, there are no indications of affiliated parties conducting transactions,” said Inarno Djajadi, Chief Executive Officer of OJK’s Capital Market, Derivative Finance & Carbon Exchange Supervisor, in Jakarta, Thursday, November 7.
Examination news surfaced again after the BREN polemic, which failed to enter the constituent FTSE Russell index in September due to the non-fulfilment of the provisions for public share ownership or free float.
Inarno emphasised that OJK had examined, and the results proved that there were no problems in the concentration of ownership by four shareholders, as published in the official announcement of FTSE Russell. (hs)
