JAKARTA – A year into their debuts, the performance of four issuers was seen plummeting compared to their starting lines on July 10, 2023. These stocks add into the long list of penny stocks that managed to enter the stock exchange.

Based on IDNFinancials data compiled Thursday (11/7), these four issuers include PT Widiant Jaya Krenindo Tbk (WIDI), PT Graha Prima Mentari Tbk (GRPM), PT Platinum Wahab Nusantara Tbk (TGUK), and PT Carsurin Tbk (CRSN). These four issuers debuted on the same day through initial public offerings (IPO) on July 10, 2023.

At its IPO, WIDI listed 1.60 billion shares for IDR 100 each, now down 1,150% to only IDR 8 per share. Its market capitalisation shrank to mere IDR 12.8 billion from the initial IDR 160 billion.

GRPM also listed 1.54 billion shares for IDR 120 each during its IPO. Its stock price now plummeted 63.33% to IDR 44 per share, and so did its market capitalisation from IDR 185.40 billion to IDR 67.98 billion.

Then, TGUK set its IPO price to IDR 110 per share, listing a total of 3.57 billion shares. TGUK’s price slipped 120% yo IDR 50, while market cap took a sharp downturn to IDR 178.57 billion from IDR 392.85 billion.

Lastly, CRSN offered 2.89 billion shares for IDR 125 each in its IPO. As of now, its price decreases 20.63% to IDR 99 per share. Its market cap went down to IDR 286.30 billion from IDR 361.50 billion. (LK/ZH)