Salip BYAN, BREN Market Capitalization Enters Top 3 of the Indonesia Stock Exchange (IDX) at the End of October 2023

Cindy Mutia Annur 01/11/2023 15:20 WIB

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At the end of October 2023, the market capitalization of renewable energy issuer PT Barito Renewables Energy Tbk. (BREN) ranked third largest on the Indonesia Stock Exchange (IDX).

Top 10 Companies by Market Capitalization in Indonesia (October 31, 2023)

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Top 10 Companies by Market Capitalization in Indonesia (October 31, 2023)

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The market capitalization of renewable energy issuer PT Barito Renewables Energy Tbk. (BREN) ranked third largest on the Indonesia Stock Exchange (IDX) at the end of October 2023. The market capitalization of this new issuer, owned by conglomerate Prajogo Pangestu, surpassed that of PT Bayan Resources Tbk. (BYAN), which dropped to fourth place.

Based on IDX data as of Tuesday, October 31, 2023, BREN recorded a market capitalization of Rp613 trillion, higher than the coal issuer owned by conglomerate Low Tuck Kwong, BYAN, which was recorded at Rp608 trillion.

BREN's market capitalization even exceeded that of two other companies owned by Prajogo Pangestu that have been listed on the exchange for longer, namely PT Barito Pacific Tbk (BRPT) at Rp105.47 trillion and PT Chandra Asri Petrochemical Tbk (TPIA) at Rp257.8 trillion.

Besides BYAN, BREN's market capitalization also surpassed PT Bank Mandiri (Persero) Tbk. (BMRI) at Rp524 trillion in fifth place, and PT Amman Mineral Internasional Tbk. (AMMN) with a recorded market capitalization of Rp471 trillion.

Above BREN, PT Bank Central Asia Tbk (BBCA) still holds the lead with a market capitalization of Rp1,068 trillion, while PT Bank Rakyat Indonesia Tbk (BBRI) is in second place at Rp706 trillion.

Previously, BREN shares continuously hit the auto reject atas (ARA) limit for nine consecutive days. At the close of yesterday afternoon's trading on the Indonesia Stock Exchange (IDX), BREN shares also rose again by 1.78% to Rp4,580 per share.

BREN was listed on the exchange on October 9, 2023, releasing 4.01 billion shares to the public, equivalent to 3% of the outstanding shares. With a public offering price of Rp780 per unit, the company raised Rp3.13 trillion in fresh funds through this corporate action.

Below is a complete list of the 10 issuers with the largest market capitalization on October 31, 2023:

1. BBCA: 1,068 trillion
2. BBRI: 706 trillion
3. BREN: 613 trillion
4. BYAN: 608 trillion
5. BMRI: 524 trillion
6. AMMN: 471 trillion
7. TLKM: 346 trillion
8. TPIA: 258 trillion
9. ASII: 234 trillion
10. BBNI: 177 trillion

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."