(Bloomberg) -- PT Barito Renewables Energy shares plunged by the daily limit for a second day after FTSE Russell said it would exclude the company from its...
-- PT Barito Renewables Energy shares plunged by the daily limit for a second day after FTSE Russell said it would exclude the company from its indexes.Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public TransportThe shares fell 20%, bringing losses since Thursday to nearly 36%. The index compiler said the Indonesian power company will be deleted from its gauges a day after the anticipated entry date, citing “high shareholder concentration.
FTSE had planned to add the geothermal power producer to its Global All Cap Index series and associated gauges on Monday. The stock will be deleted starting Tuesday, according to FTSE’s statement last week. As much as 11.7% of its shares were owned by the public as of Sept. 19, according to the statement, citing daily data from the Indonesia Central Securities Depository. “The company will continue to monitor compliance with the free float rules determined by the exchange,” Barito said.
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