BNI Sekuritas Accompanying Single IPO Barito Renewables Energy

Photo: Doc. BNI Sekuritas

JAKARTA - PT BNI Sekuritas (BNI Sekuritas) has been trusted as the only Lead Underwriter for the Initial Public Offering (IPO) of PT Barito Renewables Energy Tbk with the stock code BREN.

BREN is a parent company based in Indonesia and is part of the Barito Pacific Group. Through its subsidiary Star Energy Geothermal Group, BREN is one of the leading geothermal power producers in Indonesia. Currently, BREN operates three geothermal assets located in West Java, with a total installed capacity of 886MW, representing about 38 percent of the market share in Indonesia.

Director of Investment Banking BNI Sekuritas Nieko Kusuma revealed that the selection of BNI Sekuritas as the only Lead Underwriter reflects BREN's trust in BNI Sekuritas' ability and commitment to accompany and deliver BREN to be listed on the Indonesia Stock Exchange (IDX).

As an Underwriter who already has extensive experience, one of which is in the renewable energy sector, BNI Sekuritas fully supports the corporate action carried out by BREN. BREN is known to have a long-term commitment to providing cleaner energy with lower emissions as a positive contribution to Indonesia's target of achieving Net Zero Emission (NZE).

"As a Lead Underwriter, BNI Sekuritas hopes that investors will show positive enthusiasm so that together we can all create a sustainable and based Indonesian economy based on Environmental, Social, and Corporate Governance (ESG) principles," said Nieko, Wednesday, October 4.

BREN offers 4,015,000,000 new shares or 3 percent of the issued and fully paid capital after the Initial Public Offering, with an offering price of Rp780 and an overall amount of the Public Offering value of Rp3,131,700,000,000 (three trillion one hundred and thirty one billion seven hundred million Rupiah) making BREN the largest renewable energy sector company on the IDX.

The initial bidding period or book building has been held from September 18 to 25, 2023, and has obtained an effective permit from the OJK on September 29, 2023. Investors showed very high interest during this book building period. Furthermore, BREN will conduct a Public Offer on October 3 - 5, 2023 and take the floor on the IDX on October 9, 2023.

The commitment and consistency of BNI Sekuritas in supporting investment in the Indonesian capital market has received appreciation from various award events from both national and international levels. Among them are the Innovative Deal of the Year - Indonesia at the 2023 Asian Banking & Finance Awards, The Best Small to Mid-Cap Corporate Finance House at the 17th Annual Alpha Southeast Asia Best FI Awards 2023 and twice in a row getting the Main Award in the Green Economy / Sustainability category at the IDX Channel Anugerah Innovation Indonesia 2022 and 2023.