(Nov 25): PT Super Bank Indonesia, part of Indonesian conglomerate PT Elang Mahkota Teknologi, is planning an initial public offering (IPO) in Jakarta that could raise as much as 3.1 trillion rupiah (US$186 million or RM769.78 million).
The digital banking company plans to offer as much as a 13% stake, or about 4.4 billion shares, at 525 rupiah (13 sen) to 695 rupiah each in the IPO, according to a prospectus published on local newspaper Investor Daily. It is seeking to list on Dec 17.
Super Bank plans to use the proceeds from the share sale as working capital for loan disbursements and capital expenditure, including for development of products and information-technology systems.
PT Mandiri Sekuritas, PT CLSA Sekuritas Indonesia, PT Trimegah Sekuritas Indonesia and PT Sucor Sekuritas are the underwriters on the deal.
Super Bank has been considering an IPO as soon as this year, Bloomberg News reported in January. Super Bank’s backers include app platform Grab Holdings Ltd and Singapore Telecommunications Ltd, known as Singtel, and KakaoBank Corp, according to its website. It traces its roots back to 1993, when it was known as PT Bank Fama International.
See also: Ultragreen.ai launches IPO at US$1.45 each, aims to raise US$400 million in gross proceeds
About US$930 million has been raised via first-time share sales in Jakarta this year, exceeding all of 2024 proceeds, according to data compiled by Bloomberg. Super Bank’s IPO would be Indonesia’s second-largest listing in 2025 after that of PT Merdeka Gold Resources in September.
Uploaded by Felyx Teoh
