JAKARTA. PT Barito Renewables Energy Tbk. (BREN) has currently complied with the free float regulation of 11.66% of the total shares or 15.6 billion shares. This amount is higher than the stock exchange's provisions which stipulate a minimum of 7.5% of the total shares. 

BREN Director & Corporate Secretary Merly in an information disclosure on Monday (23/9/2024) said that this amount did not change significantly compared to the free float percentage based on the IPO prospectus which stated that the number of free float shares was 15,694,413,334 shares or 11.73%. 

She committed that the company would continue to monitor compliance with the free float regulation set by the Stock Exchange. 

Currently, BREN shares are dominated by four major shareholders, namely PT Barito Pacific Tbk. (BRPT), Green Era Energy Pte Ltd (GE), Jupiter Tiger Holdings, and Prime Hill Funds. 

The four shareholders controlled 97% of BREN shares during the IPO. Now there has been a change and the number of shares from the four shareholders is now recorded at 95.97%. "There is a change in the percentage of BREN share ownership among the four shareholders. During the IPO, the four owned 97% of BREN shares, but there was a change, now it is recorded at 95.97%," said Merly. 

On the other hand, FTSE Russell will remove BREN shares from the FTSE Global Equity Indonesia index as conveyed by FTSE through an official announcement on Thursday (19/9/2024). The reason is, BREN does not meet the free float provisions or the number of shares circulating in the regular market as stated in the high shareholder concentration rules mandated by FTSE. 

The plan is, BREN will be removed from the FTSE Russel Index on Wednesday, September 25, 2024. FTSE further explained that this is because the four shareholders have controlled 97% of the total shares outstanding in BREN shares. (AM/LM)