Barito’s Plunge Extends to 36% on Ejection From FTSE Index
- Shares fall by 20% limit for second day on removal plans
- Company will monitor compliance with bourse’s free float rules
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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.
The shares fell 20% on Monday, bringing its two-day loss to nearly 36%. The index compiler said last week that the Indonesian power company will be deleted from its gauges on Tuesday after being added on Monday, citing “high shareholder concentration.”