Suspended by the Indonesia Stock Exchange (IDX) After Only One Month of Trading, BREN Stock

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Erlina Fury Santika 10/11/2023 19:44 WIB

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BREN shares were suspended by the Indonesia Stock Exchange (IDX) due to a significant cumulative price increase. Here is its performance over the past month.

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

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Suspended by the Indonesia Stock Exchange (IDX) After Only One Month of Trading, BREN Stock

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

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The Indonesia Stock Exchange (IDX or BEI) temporarily suspended trading of PT Barito Renewables Energy Tbk (BREN) shares on Friday, November 10, 2023.

This measure was taken due to a significant cumulative price increase in the shares of this company owned by conglomerate Prajogo Pangestu, Indonesia's fourth-richest person.

"In order to implement a cooling-off period as a form of investor protection, PT Bursa Efek Indonesia deems it necessary to temporarily halt trading of PT Barito Renewables Energy Tbk (BREN) shares on November 10, 2023," stated the IDX in its official announcement on Friday, November 10, 2023.

The IDX stated that the temporary suspension of BREN trading applies to both the regular and cash markets. The aim is to allow market participants time to consider their investment decisions based on available information.

"Interested parties are urged to always pay attention to the information disclosure provided by the Company," concluded the IDX.

BREN only listed on the exchange on Monday, October 9, 2023. Katadata reported that since its listing, the share price had surged by 419.23%, becoming a multibagger by Thursday, October 19, 2023. A multibagger is a term for a stock with a large return, exceeding 100%.

Yahoo Finance data shows that BREN's share price decline was minimal, occurring only about five times in a month. The rest of the period was dominated by price increases.

BREN shares were priced at Rp975 per share on October 9, 2023. The price consistently increased, reaching Rp4,050 per share on October 19, 2023.

On October 30, 2023, the share price jumped to Rp4,500 per share. However, by November 1, 2023, it had fallen to Rp4,290 per share.

Soon after, BREN shares rebounded, reaching Rp4,400 per share on November 8, 2023. The latest data on November 9, 2023, shows the share price soared to Rp5,225, its highest since listing.

The market capitalization of this renewable energy issuer briefly entered the top three on the IDX, reaching Rp613 trillion on October 31, 2023. This was higher than the coal mining issuer owned by conglomerate Low Tuck Kwong, BYAN, which was recorded at Rp608 trillion.

(See also: Outpacing BYAN, BREN's Market Capitalization Enters IDX Top 3 at the End of October 2023)

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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Suspended by the Indonesia Stock Exchange (IDX) After Only One Month of Trading, BREN Stock

Suspended by the Indonesia Stock Exchange (IDX) After Only One Month of Trading, BREN Stock

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Suspended by the Indonesia Stock Exchange (IDX) After Only One Month of Trading, BREN Stock

Suspended by the Indonesia Stock Exchange (IDX) After Only One Month of Trading, BREN Stock

Tags

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)

Ahead of the Weekend, IHSG Drops 0.43% to Level 8,508 (Friday, November 28, 2025)

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

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