BREN - Share price jumped 579% since listed

BREN - Share price jumped 579% since listed Barito Renewables Energy (BREN) record a robust financial performance a month after its October 2023 listing on the Indonesia Stock Exchange. With a 579% increase in stock value to IDR5,300 from its IDR780 per share IPO price, BREN reports a 5.13% revenue increase to USD445.2 mn for 9M23. Notably, the increase is fueled by strengthened electricity and steam sales, totaling USD203.4 mn and USD96 mn, respectively. Despite a slight decrease in lease revenues, BREN's net profit rises by 12.4% to USD84.4 mn by September 30, 2023. The company's assets grow by 2.6% to USD3.48 bn, with short-term liabilities increasing to USD245.5 mn and long-term liabilities decreasing to USD2.7 bn. Equities rise from USD438 mn to USD460.2 mn. The Indonesia Stock Exchange temporarily halts BREN's shares due to an 18.75% surge to IDR5,225 on November 9, 2023, reopening on November 13, 2023. (Source: Investor Daily)