Grab Returns to Buying Super Bank (SUPA) Shares—What's Happening?

Grab has returned to accumulating shares in PT Super Bank Indonesia Tbk (SUPA) through its Singapore-based institutional investor, A5-DB Holdings Pte Ltd.

According to Indonesia Stock Exchange (IDX) disclosures, A5-DB Holdings Pte. Ltd. has purchased 253.914 million SUPA shares across two separate transactions.

The first transaction occurred on 24 February 2026, acquiring 130 million shares at Rp1,100 per share. The second transaction on 25 February 2026 saw the purchase of 123.914 million shares at Rp1,150 per share.

Following these transactions, A5-DB Holdings’ ownership increased from 4.842 billion shares representing 14.29% to 5.096 billion shares representing 15.04%.

All transactions were executed for investment purposes and conducted through direct ownership rather than repurchase agreement (repo) arrangements.

This marks Grab’s third buying spree for SUPA in February. On 6 February 2026, A5-DB purchased 158.07 million ordinary shares at Rp899 per share. On 18 February 2026, the entity acquired 79 million shares at Rp1,100 per share. On 23 February 2026, A5-DB acquired a further 120 million shares at Rp1,100 per share.

In total, A5-DB has acquired 353.07 million SUPA shares this month with an estimated total value of approximately Rp361 billion, all classified as direct ownership for investment purposes.

Prior to these transactions, A5-DB’s ownership stood at 4.48 billion shares or 13.23% of SUPA.

Super Bank is held under Grab through A5-DB Holdings Pte Ltd and PT Kudo Teknologi Indonesia, alongside other shareholders including the Emtek Group through PT Elang Media Visitama, Singtel through Singtel Alpha Investment Pte Ltd, KakaoBank Corp, and GXS Bank Pte. Ltd.

SUPA shares have been trending upwards, rising 13.83% over the last five trading days, though they have not yet returned to their post-IPO high of Rp1,230.

SUPA officially listed on the Indonesia Stock Exchange on 17 December 2025 with an initial offering price of Rp635. During the first three trading days, SUPA shares climbed consistently, reaching the upper automatic rejection limit (ARA) of 25%.