JAKARTA - PT Barito Renewables Energy Tbk (BREN) has pushed aside PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) to the third place of the highest market capitalisation in Indonesia Stock Exchange (IDX) from the initial runner-up spot.

Based on IDX data compiled today (29/4), BREN’s market cap is recorded at IDR 1.15 quadrillion, only second to PT Bank Central Asia Tbk (BBCA) of IDR 1.17 quadrillion as the current top of IDX market cap. Meanwhile, BRI was spotted with market cap of IDR 724.70 trillion, thus arriving below BREN.

BREN’s impressive stock performance is said to be the result of BlackRock’s further investment in changing its portions in two Exchange Traded Fund (ETF) products. BlackRock has indeed scored net buy for BREN of 149.2 million with market value of USD 74.6 million.

Last week (26/4), it was closed at IDR 8,625 per share, while the peak was IDR 9,350, and the lowest was seen at IDR 8,200 per share.

Then, two weeks ago (19/4), BREN was closed at only IDR 8,125 per share, while the highest and the lowest transaction price arrived at IDR 8,125 and IDR 7,550 per share. Market cap of BREN at that time only reached IDR 1.08 quadrillion. (LK/ZH)