JAKARTA – Financial Services Authority (OJK) is currently investigating two Barito Group companies, PT Barito Renewables Energy Tbk (BREN)andPT Petrindo Jaya Kreasi Tbk (CUAN), regarding false trading allegation in the stock market.
This announcement is issued by Inarno Djajadi, Chief Executive of Capital Market, Financial Derivative, and Carbon Exchange Supervision of OJK, through a press release, quoted today (3/10).
“Each finding will be evaluated based on the applicable regulation and standard. Should there be any evidence of violation, OJK will implement strict law enforcement according to applicable laws,” Djajadi said.
In addition to stock transaction supervision, OJK is analysing the trend of stock price according to pertinent procedure in order to detect unusual market activity.
It is known that BREN debuted through initial public offering (IPO) on October 9, 2023, offering shares for IDR 780 each. The stock price has since then skyrocketed 794.23% to IDR 6,975 per share as of yesterday’s (2/10) closing price.
BREN records 133.78 billion shares, consisting of founders’ shares of 129.77 billion, and the public’s of 4.01 billion. Controlling shareholders own 64.66% of the shares, while non-controllers have the remaining 35.33%. Total number of shareholders is 16,403, with free float ratio of 11.66%. The ultimate beneficial owner of the shares is Prajogo Pangestu.
Meanwhile, CUAN held its IPO in March 2023 with offering price set to IDR 200 per share. The stock reports 3,286% hike to IDR 7,450, which was its closing price as of yesterday (2/10).
CUAN reports 11.24 billion listed shares, 9.55 billion of which belong to founders, whereas public’s portion consists of 1.69 billion. The shareholder structure comprises controllers’ portion of 85.07% and non-controllers, 14.92%. The number of shareholders consist of 12,336 with free-float ratio of 14.91%. Similarly, the ultimate beneficial owner of the shares is also Prajogo Pangestu. (LK/ZH)