Aequitas Research

Hong Jie Seow

Independent Insight Provider

IPOs and Placements coverage across Asia Pacific

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/superbank" target="_blank" data-smartkarma-citation="entities:46063:1" rel="noopener">Superbank (SUPA IJ)</a> aims to raise around US$184m in its Indonesia IPO.</li>
<li>Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application.</li>
<li>In our previous note, we looked at its past performance. In this note, we will talk about valuations.</li>
</ul>



Superbank (SUPA IJ) aims to raise around US$184m in its Indonesia IPO.
Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application.
In our previous note, we looked at its past performance. In this note, we will talk about valuations.


Superbank IPO: Superb Story, Decent Entry Point

<ul>
<li>
<a href="https://www.smartkarma.com/entities/superbank" target="_blank" data-smartkarma-citation="entities:46063:1" rel="noopener">Superbank (SUPA IJ)</a> aims to raise around US$184m in its Indonesia IPO.</li>
<li>Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application. </li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Superbank (SUPA IJ) aims to raise around US$184m in its Indonesia IPO.
Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application. 
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Superbank Pre-IPO: Strong Partnerships With Inflection Into Profitability

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Kioxia Holdings  / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, busy season remains on in full swing going into the year end.</li>
<li>On the placements front, there were a few large deals across the region.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, busy season remains on in full swing going into the year end.
On the placements front, there were a few large deals across the region.


ECM Weekly (1 December 2025)-Kioxia, Airtel, Nippon, Toyoda Gosei, SBI Shinsei, NS Group, Super Bank

Indonesia

Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application. While it provides full banking functionality through the Superbank app, the bulk of its growth is driven by deep integrations with major digital platforms such as Grab, OVO, Emtek, Singtel, and KakaoBank.

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Superbank (SUPA IJ)

Superbank IPO: Superb Story, Decent Entry Point

Superbank plans to raise $184m in Indonesia IPO, a digital bank using ecosystem-led distribution and mobile app. Previous note on performance, now...

Hong Jie Seow

Superbank Pre-IPO: Strong Partnerships With Inflection Into Profitability

Superbank plans to raise $184m in Indonesia IPO, leveraging ecosystem-led distribution and standalone app for digital banking.

Hong Jie Seow

ECM Weekly (1 December 2025)-Kioxia, Airtel, Nippon, Toyoda Gosei, SBI Shinsei, NS Group, Super Bank

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Superbank IPO: Superb Story, Decent Entry Point

​Superbank plans to raise $184m in Indonesia IPO, a digital bank using ecosystem-led distribution and mobile app. Previous note on performance, now...

Hong Jie Seow

Superbank Pre-IPO: Strong Partnerships With Inflection Into Profitability

​Superbank plans to raise $184m in Indonesia IPO, leveraging ecosystem-led distribution and standalone app for digital banking.

Hong Jie Seow

ECM Weekly (1 December 2025)-Kioxia, Airtel, Nippon, Toyoda Gosei, SBI Shinsei, NS Group, Super Bank

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Superbank plans to raise $184m in Indonesia IPO, a digital bank using ecosystem-led distribution and mobile app. Previous note on performance, now...

Superbank plans to raise $184m in Indonesia IPO, leveraging ecosystem-led distribution and standalone app for digital banking.