JAKARTA – Social media platforms are abuzz with screenshots suggesting that PT Super Bank Indonesia, commonly known as Superbank, is preparing for an initial public offering (IPO). These circulating images, set against an E-IPO backdrop, indicate that Superbank plans to execute its IPO in mid-October 2025. The alleged offering involves 35.88 million lots of shares, representing 20.05% of its total shares, with an initial price range rumored between Rp250 and Rp300.
However, the Director of the Indonesia Stock Exchange (IDX), I Gede Nyoman Yetna, has categorically stated that there is no ongoing IPO process for Superbank. “Currently, the company mentioned in the screenshots [Superbank] is neither conducting book building nor offering shares on the e-IPO system,” Yetna informed media on Friday, September 26, 2025.
This is not the first time the entity now known as Superbank has considered going public. Formerly PT Bank Fama International Tbk. (FAMA), the bank had previously eyed an IPO in late 2020, intending to release 24% of its shares at a price between Rp298 and Rp328. This earlier IPO attempt, however, was ultimately canceled.
The recent rumors naturally spark curiosity about Superbank’s current profile and its ownership structure. Tracing its origins, Superbank began as PT Bank Fama International, established in Bandung in 1993. The institution formally rebranded as Superbank in early 2023, subsequently moving its headquarters to Jakarta while maintaining branches in both Jakarta and Bandung.
Superbank embarked on a transformative journey when it became part of the Emtek Group in late 2021. This strategic shift was followed by significant investments from Grab and Singtel in early 2022, and later KakaoBank in 2023, solidifying its position within a powerful consortium. In 2024, Superbank further strengthened its foothold in the digital banking ecosystem by introducing a suite of innovative savings and lending products. These include “Saku by Superbank,” “Celengan by Superbank,” and competitive deposit products offering flexible tenures starting from just seven days. The bank also launched “Pinjaman Atur Sendiri (PAS),” a flexible loan option. Demonstrating its commitment to collaborative innovation, Superbank partnered with OVO to introduce “OVO Nabung,” a feature enabling users to convert their OVO balance into an interest-bearing savings account.
As of August 15, 2025, the ownership of Superbank is distributed among several prominent entities. PT Elang Media Visitama holds the largest stake with 31.11%. This is followed by PT Kudo Teknologi Indonesia with 19.16%, GXS Bank Pte. Ltd. at 12%, and A5-DB Holdings Pte. Ltd. with 11.52%. Further stakes include KakaoBank Corp holding 9.95%, Singtel Alpha Investment Pte. Ltd. with 8.46%, and other group companies collectively owning 7.80% (with individual holdings less than 5%).
Delving into these major shareholders, PT Kudo Teknologi Indonesia, initially an online-to-offline (O2O) technology company, was acquired by Grab in 2017 and subsequently transformed into GrabKios. Similarly, GXS Bank is a digital bank based in Singapore, under the control of Grab Holdings Inc and Singtel. Meanwhile, A5-DB Holdings Pte. Ltd. operates as a subsidiary of Grab Holdings Limited (Grab) and Singtel Alpha Investments Pte. Ltd.
Further connections reveal that Eddy K. Sariaatmadja possesses a 21.89% ownership in PT Elang Mahkota Teknologi Tbk. (EMTK), which is the parent company of PT Elang Media Visitama. In relation to Anthony Tan Ping Yeow, the founder of Grab, he holds a 3.7% stake in Grab Holdings Limited, the ultimate parent company of A5-DB Holdings Pte. Ltd., which it fully owns.
Summary
Screenshots circulating online suggest Superbank is preparing for an initial public offering (IPO) in mid-October 2025, potentially offering 20.05% of its shares at Rp250-Rp300. However, the Director of the Indonesia Stock Exchange (IDX) has denied any ongoing IPO process for Superbank, stating it is not currently conducting book building or offering shares. This follows a previously canceled IPO attempt by the bank, then known as Bank Fama International, in late 2020.
Superbank, which rebranded in early 2023 from PT Bank Fama International, became part of the Emtek Group in late 2021. It subsequently received significant investments from Grab, Singtel, and KakaoBank, solidifying its position in the digital banking ecosystem. Key shareholders include PT Elang Media Visitama (an Emtek Group entity), PT Kudo Teknologi Indonesia (Grab-owned), GXS Bank (controlled by Grab/Singtel), and A5-DB Holdings (a Grab/Singtel subsidiary).