Saham Capital Financial Indonesia Tbk (CASA) recorded the highest profit among 13 companies that conducted initial public offerings (IPOs) on the Indonesia Stock Exchange (IDX) throughout 2016. On September 29, 2016, CASA shares closed at Rp 446 per share, a 243.1 percent increase from its initial offering price of Rp 130 per share. Within two months, CASA shareholders had profited 2.4 times their initial investment. Also read: Most Profitable Stocks of 2016
Not all companies listed on the Jakarta Stock Exchange in 2016 yielded profits for investors. Two, in fact, experienced declines: Protech Mitra Perkasa (OASE) and Bank Ganesha (BGTG).
The sluggish domestic economy prompted the IDX to revise its target for companies conducting initial public offerings in 2016 to 25 companies, down from the previous target of 35.
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