JAKARTA – Stock price of PT Barito Renewables Energy Tbk (BREN) moved up IDR 250 this afternoon (28/6) from its opening position at IDR 9,850 per share. Its market cap now exceeds IDR 1.34 trillion, defeating PT Bank Central Asia Tbk’s (BBCA) of IDR 1.18 quadrillion.

As seen at 2.43 PM WIB, BREN even reached IDR 10,050 per share, up IDR 200 from its opening price. At 10 AM WIB, the stock declined to IDR 9,600 per share, before rebounding by IDR 425 to IDR 10,025 at 11.10 AM WIB.

Earlier in June 2024, Indonesia Stock Exchange (IDX) temporarily suspended BREN’s transaction due to its unusual market activity and caught in full call auction system, which ordered auto rejection once price went up or down by 10%. As a result, BREN’s stock price gradually slipped to around IDR 8,000 from IDR 11,250 seen in late May 2024.

BREN then regained strength after IDX reevaluated its FCA system, which stated that the company might be dropped from special monitoring list after seven days.

Since the beginning of this week (25/6), its price went up 88.8% to IDR 10,050 from IDR 9,400 per share. (LK/ZH)