Flooring Guide by Cinvex – JAKARTA — Share prices of PT Elang Mahkota Teknologi Tbk. (EMTK) and PT Surya Citra Media Tbk. (SCMA) experienced a significant surge, fueled by circulating rumors of an Initial Public Offering (IPO) for their affiliated entity, Superbank.
According to data from the Indonesia Stock Exchange (BEI), SCMA’s share price dramatically leaped by 19.05%, reaching Rp400 per share during the first trading session today, Wednesday (1/10/2025). This robust performance firmly placed SCMA in the green zone, with its share price more than doubling—specifically, climbing 139.52% year-to-date (ytd) since the first trading day of 2025.
A similar impressive ascent was observed with EMTK. Its share price soared by 23.5% in today’s inaugural trading session, hitting Rp1,550 per share. Over the course of the year, EMTK’s share price has more than tripled, achieving an astounding 215.04% ytd gain.
The remarkable rallies in both EMTK and SCMA stock are widely attributed to the intensifying speculation surrounding Superbank’s potential IPO. EMTK holds a substantial position as the largest shareholder in Superbank. As detailed on its official website, EMTK, through its subsidiary PT Elang Media Visitama, possesses a 31.27% stake in the digital bank.
For context, Superbank began its journey as PT Bank Fama International. The bank later underwent a significant transformation into a digital banking platform and subsequently rebranded as Superbank following EMTK’s strategic investment and entry.
Rumors of Superbank’s impending public listing have been a hot topic across social media platforms since last week. A widely circulated screenshot, appearing to be from an e-IPO platform, suggested that Superbank was set to launch its IPO in mid-October 2025. The purported offering included 35.88 million lots of shares, representing 20.05% of its total shares, with an initial offering price reportedly pegged between Rp250-Rp300.
In response to the mounting speculation, Beverly Gunawan, Corporate Communication Head of Emtek, acknowledged the public’s keen interest in the rumors concerning Superbank’s IPO.
“We do not comment on unverified market rumors or speculation,” Gunawan stated in a written statement released some time ago, maintaining a cautious stance on the unofficial reports.
The whispers of a Superbank IPO are not new, having first surfaced at the beginning of this year. As reported by Bloomberg in February 2025, sources privy to Superbank’s IPO plans indicated that the digital bank was actively considering a public listing on the exchange, aiming to raise a substantial US$200 million to US$300 million from potential share sales.
Furthermore, these reports suggested that Superbank is targeting an impressive valuation of between US$1.5 billion and US$2 billion for its debut on the stock market.
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Summary
Shares of PT Elang Mahkota Teknologi Tbk. (EMTK) and PT Surya Citra Media Tbk. (SCMA) experienced significant surges, driven by strong speculation regarding an Initial Public Offering (IPO) for their affiliate, Superbank. SCMA’s stock climbed 19.05% to Rp400, bringing its year-to-date gain to 139.52%, while EMTK’s shares soared 23.5% to Rp1,550, achieving an impressive 215.04% YTD increase. EMTK holds a substantial 31.27% stake in Superbank, making it the largest shareholder.
Superbank, originally PT Bank Fama International, transformed into a digital bank following EMTK’s strategic investment. Rumors of its potential IPO, including a mid-October 2025 listing aiming to raise US$200-US$300 million with a target valuation of US$1.5-US$2 billion, have intensified since early this year. However, Emtek’s Corporate Communication Head stated they do not comment on unverified market rumors or speculation.