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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

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Ben Paul

Ben Paul

Published Sun, Jun 28, 2026 · 08:05 PM
    • Six months into 2026, there have been two listings on the mainboard and three on Catalist – all of which are currently underwater.
    • Six months into 2026, there have been two listings on the mainboard and three on Catalist – all of which are currently underwater. PHOTO: BT FILE

    [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.

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