First IPO of 2026: Investor enthusiasm drives WBSA shares up 35 per cent

Jakarta (ANTARA) - Logistics company PT BSA Logistics Indonesia Tbk (WBSA) has officially listed its initial shares or Initial Public Offering (IPO), with the share price rising 34.52 per cent to Rp226 per share from the offering price by 10:30 WIB, breaching the Auto Reject Atas (ARA). WBSA becomes the first company to officially list on the Indonesia Stock Exchange (BEI) in 2026, receiving an enthusiastic welcome from investors with an oversubscription of 386.86 times. WBSA President Director Edwin Wibowo, at the BEI Main Hall in Jakarta on Friday, stated that the opportunities in the national logistics industry remain vast, given Indonesia’s characteristics as an archipelagic nation along with high industrial activity and domestic consumption. “This condition drives a significant need for integrated multimodal logistics services. Through this IPO, we hope to strengthen our position and capabilities in supporting the growth of the transportation sector and the Indonesian economy,” Edwin said. Through targeted expansion strategies, an integrated business model, as well as infrastructure support and technology adoption, Edwin is optimistic that the company can deliver sustainable growth and create long-term value added for all stakeholders. “The company believes that this share listing is an important milestone in strengthening the capital structure, accelerating business expansion, and reinforcing the market position as an integrated logistics service provider,” Edwin stated. In the IPO action, the company offered 1.8 billion new shares, equivalent to 20.75 per cent of the placed and fully paid-up capital, and set the price at Rp168 per share, successfully raising fresh funds of Rp302.4 billion. Regarding the use of IPO proceeds, the entire amount after deducting emission costs, approximately Rp215 billion, will be used to take over 191,250 shares in PT Bermuda Inovasi Logistik, equivalent to 99.99 per cent of the total placed and fully paid-up capital of BIL, from PT Bermuda Nusantara Logistik (BNL). The remaining IPO proceeds will be used as the company’s working capital, including to support daily operational activities, maintain business liquidity, and strengthen the capacity of multimodal logistics services. In this corporate action, PT OCBC Sekuritas Indonesia and PT Semesta Indovest Sekuritas acted as underwriters for the securities issuance. The securities emission guarantors will be determined later. Following the IPO, WBSA’s current share ownership structure is 79.01 per cent owned by Tiga Beruang Kalifornia Pte. Ltd (TBK), 0.24 per cent owned by PT Permata Gandaria Indah (PGI), and 20.75 per cent owned by the public.