JAKARTA - PT Barito Renewables Energy Tbk (BREN) will buy back its shares in the next three months, starting next week (24/3).

Merly, Corporate Secretary of BREN, said that the company has allocated a maximum of IDR 2 trillion for the buyback. ‘The buy back will be funded by the company's internal cash balance. The funds set aside by the company will not interfere with the company's operations,’ she said in an information disclosure on Friday (21/3).

The shares to be bought back are a maximum of 0.2% or 267.57 million shares of BREN's total issued shares. BREN's total shares were recorded at 133.78 billion as of 28 February 2025. The shareholder structure is 64.765% controlling and 35.235% non-controlling. The number of free float shares is 15.56 billion.

This plan will last for three months until 23 June 2025. After the corporate action, BREN's total assets and total equity will decrease by US$123.74 million, to US$3.66 billion and US$609.78 million, respectively.

The buyback can take place without the approval of the General Meeting of Shareholders (GMS), referring to Financial Services Authority (OJK) regulation No.13/2023. This corporate action responds to market conditions that fluctuate significantly. Yesterday (18/3), the Indonesia Stock Exchange (IDX) temporarily froze (trading halt) the trading system in session I at 11.19 WIB because the JCI fell 5%. (LK/LM)