JAKARTA – Shares of PT Barito Renewables Energy Tbk (BREN) still have a chance to re-enter the FTSE index, provided they meet several key criteria.

In September 2024, BREN shares were removed from the FTSE Global Equity Indonesia Index in the large-cap category. FTSE Russel explained that the reason behind this was the company’s failure to meet the free float criteria.

Wangming Du, Policy Director at FTSE Russel, stated that the organization has several criteria for including a stock in the index, such as liquidity and a minimum free float of 5%. "In the case of Barito [BREN], the issue was the significant concentration of controlling shareholders," Du said at the Bloomberg Technoz Economic Outlook 2025 event in Jakarta on Thursday (19/2).

However, Du noted that BREN still has a chance to be reinstated as a constituent of the FTSE index, especially considering that BREN has a substantial market capitalization and its shares are relatively liquid. "We are closely monitoring the shareholder structure," Du added.

FTSE Russel is scheduled to re-evaluate its index constituents in September 2025.

Currently, PT Barito Pacific Tbk (BRPT) controls 64.666% of BREN’s shares, Green Era Energi Pte. Ltd holds 23.603%, Prajogo Pangestu owns 0.098%, and public investors account for 11.633%. (KR/ZH)