Friday, 12 February 2010

Garuda Moving Ahead with IPO Plan

National flag carrier PT Garuda Indonesia will pick underwriters within two weeks for a planned initial public offering of up to $400 million to be launched by the third quarter, its chief executive said on Wednesday. Emirsyah Satar said Garuda's IPO would help fund its fleet expansion and was on target to be launched either at the end of the second quarter or early in the third quarter of 2010.
Source: The Jakarta Globe, p. 82, 4 February

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