Profile of WBSA: Sinar Mas' Logistics Tentacle Strengthening the National Supply Chain through IPO

Indonesia’s capital market has welcomed its first prospective issuer for 2026. PT BSA Logistics Indonesia Tbk (WBSA), an integrated logistics company affiliated with the Sinar Mas Group, has begun its initial offering period (bookbuilding) today, Wednesday (25/3). In this corporate action, WBSA is offering up to 1.8 billion new shares, equivalent to 20.75% of the placed and fully paid-up capital. The company has set the initial offering price range at Rp150 to Rp170 per share, potentially raising fresh funds of up to Rp306 billion. According to the company’s prospectus, the majority of the IPO proceeds, approximately Rp215 billion, will be allocated for strategic steps, namely acquiring 99.99% of the shares in PT Bermuda Inovasi Logistik (BIL). This move is intended to strengthen the sea transportation business line and integrate multimodal logistics services more efficiently. “The remaining proceeds from the public offering will be used as working capital to support daily operations and strengthen our logistics service capacity across Indonesia,” WBSA’s management stated in the information disclosure. For prospective investors, WBSA also provides positive signals with plans to distribute cash dividends of up to 10% of net profit starting from the 2027 fiscal year. This decision will depend on approval at the upcoming Annual General Meeting of Shareholders (AGMS). For information, PT BSA Logistics Indonesia was established in 2021 and operates in multimodal transportation, warehousing, and cold storage. Its presence in the capital market is expected to serve as a positive catalyst for the national logistics sector, which is rapidly developing in 2026.