JAKARTA - Market capitalization of PT Barito Renewables Energy Tbk (BREN) arrived at the top, replacing PT Bank Central Asia Tbk (BBCA) from the first position at Top 50  Market Cap of Indonesia Stock Exchange (IDX). Said spot I secured after BREN officially got dropped from Special Monitoring List of IDX during the last week of June.

Based on IDX data complied today (3/7), BREN reported market cap of IDR 1.34 trillion or 11.15% of total market cap, which reached IDR 12.92 quadrillion as of June 2024. It surpasses BBCA’s market cap of IDR 1.21 quadrillion.

BREN’s market cap has been soaring again since IDX’s re-evaluation on full-call auction (FCA) scheme. BREN’s stock price was once dropped to IDR 6,700-ish from IDR 11,250, during FCA period from late May to mid-June 2024.

This FCA system forced BREN to gradually decline due to the implementation of suspension following 10% uptrend or downtrend in its price. The listing of BREN under said special monitoring board is due to its transaction activities on May 28, 2024.

For the record, PT Chandra Asri Petrochemical Tbk (TPIA) also now arrived at the third spot at top market cap list, replacing PT Amman Mineral Internasional Tbk (TPIA).

TPIA booked market cap of IDR 798.06 trillion, whereas AMMN only scored IDR 797.70 trillion. In May 2024, AMMN actually sat on the third position, recording market cap of IDR 875.65 trillion, while TPIA was stuck at IDR 793.74 trillion. (LK/ZH)