Grab-Backed Lender Seeks to Raise Over $180 Million in Indonesia Listing

Dow Jones11-25

By Kimberley Kao

Grab-backed Super Bank Indonesia is planning an initial public offering that could raise over $180 million.

The digital bank, a part of Indonesian conglomerate Elang Mahkota Teknologi, also known as Emtek Group, plans to offer about 4.4 billion shares, or a 13% stake, according to its prospectus filing with the Indonesia Stock Exchange.

The shares will be offered at a price range of 525 rupiah to 695 rupiah. That would raise up to 3.06 trillion rupiah, equivalent to $183.8 million.

Super Bank Indonesia expects its shares to start trading Dec. 17.

Proceeds from the IPO will go toward working capital and capital expenditure, including product development, as well as artificial intelligence and data analytics, according to the prospectus.

Super Bank Indonesia's shareholders include Grab, South Korea's KakaoBank and Singapore's Singtel.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

November 25, 2025 02:03 ET (07:03 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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