Jakarta. Indonesia’s Super Bank Indonesia, better known as Superbank, launched its initial public offering (IPO) on Tuesday with a maximum fundraising target of Rp 3.06 trillion ($183.8 million).

The bank is offering 4.4 million shares at Rp 525 to Rp 695 apiece until December 1. The public offering period is scheduled for December 10–15, 2025.

According to the IPO brief published in Investor Daily, the supervisory board includes Yenny Wahid, daughter of former president Abdurrahman Wahid, serving as independent commissioner. Anton Hermanto Gunawan is president commissioner, and Neneng Goenadi, currently Country Managing Director of Grab Indonesia, is also on the board.

The executive team consists of:

• Tigor M. Siahaan — President Director
• Melisa Hendrawati — Finance Director
• Bhavana Balramdas Vatvani — Operations Director
• Amalia Pratantara — Compliance Director
• Sukiwan — Business Director

Superbank’s largest shareholders before the IPO include Elang Mahkota Teknologi (Emtek) with 31.11 percent, and Grab Holdings -- through Kudo Teknologi Indonesia -- with 19.16 percent.

The bank plans to allocate 70 percent of IPO proceeds to working capital for credit expansion, while the remaining 30 percent will be used for capital expenditure, including product development and information-technology enhancement to support business operations.