First IPO of 2026: BSA Logistics (WBSA) Targets Rp306 Billion in Funds

PT BSA Logistics Indonesia has officially become the first company to undertake an initial public offering (IPO) on the Indonesia Stock Exchange (BEI) in 2026. The company, which will use the stock code WBSA, has set an initial offering price range of Rp150 to Rp170 per share.

According to disclosures on the BEI on Wednesday (25/3), the company is releasing a maximum of 1.8 billion new shares. This amount equates to 20.75% of the placed and fully paid-up capital following the IPO. With this scheme, WBSA has the potential to raise fresh funds of up to Rp306 billion.

This IPO move is more than just seeking working capital. WBSA has concrete expansion plans. Approximately Rp215 billion from the IPO proceeds will be allocated to acquire 191,250 shares (99.99%) of PT Bermuda Inovasi Logistik (BIL).

This strategic step is expected to strengthen the company’s logistics ecosystem, particularly in multimodal services. The remainder will be used to bolster working capital to support routine operations and maintain the company’s healthy liquidity.

Prior to listing on the exchange, WBSA’s ownership is dominated by Tiga Beruang Kalifornia Pte. Ltd at 99.69% and PT Permata Gandaria Indah at 0.31%. After the IPO process is completed, public ownership will reach 20.75%, while Tiga Beruang Kalifornia Pte. Ltd will hold 79.01% of the shares.

To facilitate this corporate action, WBSA has appointed PT OCBC Sekuritas Indonesia and PT Semesta Indovest Sekuritas as underwriters for the securities issuance.

WBSA’s presence as the inaugural issuer in 2026 is expected to serve as a positive catalyst for the investment climate in the Indonesian capital market, particularly in the continuously growing transportation and logistics sector.