After 10 Days of Trading on the Stock Exchange, BREN Stock Price Falls Slightly

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Cindy Mutia Annur 20/10/2023 19:43 WIB

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PT Barito Renewables Energy Tbk (BREN) share price weakened to Rp4,030 at the close of trading on Friday, October 20, 2023, after a nine-day surge.

PT Barito Renewables Energy Tbk/BREN Stock Price Movement (September 9 - October 20, 2023)

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PT Barito Renewables Energy Tbk/BREN Stock Price Movement (September 9 - October 20, 2023)

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PT Barito Renewables Energy Tbk (BREN) share price weakened by 20 points or 0.49% to Rp4,030 per share at the close of trading on Friday (20/10/2023).

The shares of this company owned by tycoon Prajogo Pangestu paused on its tenth day of trading on the exchange, after surging for the previous nine days.

According to RTI Infokom, shares of this subsidiary of PT Barito Pacific Tbk (BRPT) initially strengthened at the beginning of Friday's trading (20/10/2023), reaching its highest level at Rp4,210 per share.

However, BREN shares also reached their lowest level today, at Rp3,850 per share.

The volume of BREN shares traded today was 85.37 million shares with a transaction value of Rp343.24 billion. Meanwhile, the trading frequency was recorded at 30,699 times.

Previously, the BREN share price rose sharply since its listing on the Indonesia Stock Exchange (BEI) on Monday (9/10/2023) until Thursday (19/10/2023).

Cumulatively, in the first nine days of listing on the BEI, BREN shares have surged 419.23%.

Although its shares have now weakened slightly, BREN remains the fourth-largest capitalized issuer on the BEI. On Friday (20/10/2023), the market capitalization of the green energy issuer reached Rp539 trillion.

BREN's market capitalization even displaced PT Bank Mandiri Tbk (BMRI), which is now ranked fifth with a market capitalization of Rp531 trillion.

BREN is one rank below PT Bayan Resources Tbk (BYAN), which has a market capitalization of Rp658 trillion.

Editor : Adi Ahdiat

"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."