Grab-Backed Super Bank Jumps in Jakarta After $168 Million IPO
The Indonesia Stock Exchange (IDX) building in Jakarta.
Photographer: Dimas Ardian/BloombergDigital banking firm PT Super Bank Indonesia surged 24%, hitting the daily trading limit, on its Jakarta debut following an initial public offering that ranks as Indonesia’s second largest this year.
The unit of Indonesian conglomerate PT Elang Mahkota Teknologi saw its shares rise to 790 rupiah, up from its IPO price of 635 rupiah. Super Bank raised 2.8 trillion rupiah ($168 million) through the offering by selling approximately a 13% stake.