JustCo’s dismal debut: Did institutional investors misjudge the company’s public market value?
Despite pivoting to profitability and laying out growth plans, its shares have slumped 42.6% below their IPO price
[SINGAPORE] Some investors may have been heartened by JustCo’s announcement last week that it will open a new co-working centre in Singapore’s Central Business District.
The provider of flexible workspaces came to market last month following an initial public offering at S$0.94 per share. On its first trading day, on May 22, its shares closed at S$0.775 – nearly 17.6 per cent below its IPO price.
Since then, JustCo’s shares have sunk even lower. They ended Friday’s (Jun 26) trading session at S$0.54.