Grab-Backed Super Bank Seeks Up to $186 Million in Jakarta IPO

PT Super Bank Indonesia, part of Indonesian conglomerate PT Elang Mahkota Teknologi, is planning an initial public offering in Jakarta that could raise as much as 3.1 trillion rupiah ($186 million).

The digital banking company plans to offer as much as a 13% stake, or about 4.4 billion shares, at 525 rupiah 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.