Grab-backed Super Bank Indonesia, part of Emtek Group, is aiming to raise up to $183.8 million through an IPO by offering 4.4 billion shares (13% stake) at 525–695 rupiah per share.

The shares are expected to start trading on Dec. 17 on the Indonesia Stock Exchange. Proceeds will fund working capital, capital expenditure, product development, AI, and data analytics.

Shareholders include Grab, KakaoBank (South Korea), and Singtel (Singapore).