JAKARTA - PT Griptha Putra Persada Tbk (GRPH) share price was recorded at IDR 50 on Monday (20/1). The price fell 51.45% from the company's initial public offering price on January 18, 2024.

Data compiled by IDN Financials shows that GRPH's share performance sloped to IDR 98 per share on January 22, 2024. The share price continued to fall until on March 4, 2024 at the level of IDR 50 per share. The number of shares offered is 200 million from GRPH's issued and fully paid-up capital after the IPO.

The IPO proceeds amounted to IDR20.6 billion, of which 48.76% was allocated for the improvement of hotel facilities, 4.13% for the purchase of new equipment, 3.36% for the lease of new The Flamexpress outlets in four locations, and the rest for working capital.

Last week (17/1), the volume of shares of this issuer was traded at 175,900 in 18 transactions worth IDR 8.79 million. (LK/LM)