After a brief recovery from its low point, BREN's share price is now falling again.

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Erlina Fury Santika 11/01/2024 19:02 WIB

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Prajogo Pangestu's BREN shares plummeted to the Auto Rejection Below (ARB) limit on Tuesday, January 9, 2024. Although they rebounded slightly the following day, the price has now fallen again.

BREN Stock Movement (October 9, 2023 - January 11, 2024)

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BREN Stock Movement (October 9, 2023 - January 11, 2024)

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Shares of PT Barito Renewables Energy Tbk. (BREN) plummeted, hitting the lower auto rejection (ARB) on Tuesday, January 9, 2024.

According to Yahoo Finance data, shares owned by tycoon Prajogo Pangestu were at Rp5,400 per share that day. This level dropped 20% from the previous trading day's Rp6,750 per share on Monday, January 8, 2024.

A day after the ARB, BREN rebounded with a relatively small increase of 5.09%, reaching Rp5,675 per share on Wednesday, January 10, 2024.

However, the price of BREN shares fell again by 11.01% to Rp5,050 per share on Thursday, January 11, 2024.

(See also: 10 Top Losing Stocks in Early 2024, Prajogo Pangestu's Companies Dominate)

BREN is a newcomer to the stock exchange. Having its initial public offering (IPO) on October 9, 2023, BREN set a price of only Rp780 per share. On that day, its shares hit the upper limit (auto rejection up/ARA) with a buying price of Rp975 per share.

Looking at the chart, the movement of BREN shares has been quite aggressive since its listing on the exchange.

The Indonesia Stock Exchange (BEI) even temporarily halted trading of BREN shares on Friday, November 10, 2023, at a price of Rp5,225 per share. This step was taken due to a significant cumulative price increase.

During its listing, this renewable energy issuer recorded its highest price on December 8, 2023, at Rp8,050 per share.

Based on RTI Business data, the volume of BREN shares traded on Thursday, January 11, 2024, was 53.03 million shares. The transaction value was Rp284.64 billion with a frequency of 20,805 times.

Currently, BREN's market capitalization is only Rp675.62 trillion. This figure has drastically decreased from December 22, 2023, when it reached Rp1,003.40 trillion.

(See also: Performance of Prajogo Pangestu's Issuers Throughout 2023, Which Ones Were the Most Profitable?)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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After a brief recovery from its low point, BREN's share price is now falling again.

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After a brief recovery from its low point, BREN's share price is now falling again.

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Related Data

Despite Weakening, IDX Composite Remains at the 8,600 Level (Friday, December 5, 2025)

IDX Composite Weakens While Many Stock Sectors Gain (Wednesday, December 3, 2025)

IDX Composite Reaches 8,617, New All-Time High (Tuesday, December 2, 2025)

IHSG Strengthens as Many Stocks Weaken (Monday, December 1, 2025)

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IHSG Weakens, Back to 8,500 (Thursday, November 27, 2025)

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