Barito Renewables Energy’s IPO Violation
The Stock Exchange detects alleged violations in the IPO of Barito Renewables Energy. There are indications of maneuvering around public shareholding requirements.
Khairul Anam
October 21, 2024
SINCE FTSE Russell removed Barito Renewables Energy (IDX: BREN) from the FTSE Global Equity Index list in mid-September, the company’s share price immediately plummeted. Prajogo Pangestu, the head of the Barito Group, which is the parent company of BREN, even had to dig into his pockets to stem the fall of the company’s shares.
On Wednesday, October 2, 2024, Prajogo bought back 16,712,500 shares of BREN from the marke
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