Renewable Energy Issuer Shares Are Getting More Laris, PGEO Officially Enters LQ45

Share illustration (Photo: dock. Antara)

JAKARTA PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) managed to enter the 45th stock index with the largest and most liquid market capitalization on the Indonesia Stock Exchange (IDI), the LQ45 index. This achievement reflects the company's stable growth supported by strong fundamentals.

Finance Director of PT Pertamina Geothermal Energy Tbk Nelwin Aldriansyah stated that PGEO's entry in this index was positively welcomed by market participants.

PGEO's success in entering the LQ45 Index marked an extraordinary achievement. In fact, in the first trading session, PGEO's shares had jumped and almost reached 6 percent. LQ45 confirmed PGEO's position as a significant entity in the capital market," Nelwin explained quoting Written Information, Saturday, January 27.

On Thursday (25/2), the IDX announced the results of major evaluations of LQ45 index constituents. In this adjustment, four new issuers entered the LQ45 Index, including PGEO. The application of this new index will take effect from February 1, 2024 to July 31, 2024.

The LQ45 index is one of the important indicators in the world of stock investment in Indonesia. The selection carried out by the LQ45 Index is based on factors such as high liquidity levels, market capitalization, corporate fundamentals, and growth prospects.

With PGEO's stock market or weight value of around 0.29 percent of the total LQ45 Index value, PGEO's existence contributed significantly to the dynamics of the index.

The presence of PGEO's shares in the LQ45 Index strengthens the focus of the capital market on sustainable investment. "This indicates that investor interest in EBT sector issuers is very high and this is a positive signal to be grateful for," said Nelwin.

PGEO's share entry in the LQ45 Index marks a positive push towards the energy transition in Indonesia as well as opening up new opportunities for PGEO to continue to have a positive impact in the EBT sector.

In addition to the LQ45 Index, PGEO is also registered in the IDX30 Index, IDX80, and KOMPAS100.

With this achievement, PGE views the future with optimism as the main driving force in changing to sustainable energy in Indonesia.

"In the future, we will continue to be committed to increasing operational efficiency, in order to ensure the sustainability of positive growth and provide sustainable value for all stakeholders," said Nelwin.