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View all search resultsGrab, Emtek-backed Superbank set for Rp 5.36t IPO: Leaked prospectus
The private bank appears to be planning an IPO slated for an IDX listing on Dec. 11, according to what appears to be a leaked prospectus circulating on social media but has not been verified to date, setting it on course to potentially become a “lighthouse company".
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A stock trader monitors the Indonesia Stock Exchange (IDX) Composite index on April 8, 2025, at an unidentified location in South Tangerang, Banten. (AFP/Bay Ismoyo)
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T Super Bank Indonesia (Superbank), the digital lender backed by Grab and PT Elang Mahkota Teknologi (Emtek), appears to be gearing up for an initial public offering (IPO) worth as much as Rp 5.36 trillion (US$321.5 million), according to a leaked prospectus circulating on social media.
The prospectus suggests that Superbank plans to float around 5.2 billion shares, equivalent to 15 percent of its enlarged capital, at an indicative price range of Rp 500 to Rp 1,030 per share.
The planned IPO’s book building is to run from Nov. 17 to 24, followed by an electronic distribution slated for Dec. 10 and a formal listing on the Indonesia Stock Exchange (IDX) set for Dec. 11.
A Superbank spokesperson declined to comment on the viral leak, which they described as “market rumors”, adding that the bank remained focused on delivering innovation and growth.
“Our focus remains on maintaining strong performance through innovative financial solutions, growing our customer base and collaborating with trusted ecosystems to promote inclusive growth in Indonesia,” the spokesperson told The Jakarta Post on Friday.
IDX corporate valuation director I Gede Nyoman Yetna warned that the circulation of the allegedly leaked prospectus violated the rules of the Financial Services Authority (OJK).
“Based on Bapepam-LK Regulation No. IX.A.2, Article 2a, no party is allowed to disseminate a brief prospectus before receiving an OJK statement requiring the issuer to publish it in accordance with Form No. IX.A.2-9,” Nyoman said on Friday, as quoted by CNBC Indonesia.
