State-run airline company Garuda Indonesia plans to float its shares on the Indonesia Stock Exchange (IDX) tentatively on Feb. 11, a bourse official said Friday.
IDX director of corporate listing Eddy Sugito said the state’s flag carrier would offer 30 percent shares in its initial public offering (IPO), expected to take place at the beginning of February.
Garuda will conduct a roadshow to capture investors' demand from Jan. 17-28, he added.
"The offered shares will include the 10 percent stake Bank Mandiri holds in Garuda", Eddy said after meeting with Garuda executives at the Indonesia Stock Exchange in Jakarta.
The nation's largest bank has previously said it aimed to collect Rp 1 trillion (US$100 million) from the sales of its 10 percent stake obtained through a debt-to-equity swap earlier this year.
Garuda's chief executive officer Elisa Lumbantoruan said on the same day that the airline firm aimed to raise US$300 to $400 million through the initial shares offer.
Source :
http://www.thejakartapost.com/news/2010/11/26/garuda-plans-idx-debut-feb-11.html
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