Jan 12, 2011

Garuda IPO set at Rp750-Rp1,100

Indonesia's flag carrier PT Garuda Indonesia is set at the price of Rp750-Rp1,100 per share during initial public offering (IPO).
Iman Rachman, Director of Investment Banking at Mandiri Sekuritas, told Insider Stories that Garuda plans to sell 36.47% shareholding during the IPO. About 28.93% stake will be issued by Garuda Indonesia and 7.54% stake will be sold by PT Bank Mandiri Tbk.The company schedules to list its stocks on February 11 at Indonesia Stock Exchange.

Disclosure: No position at the stock mentioned above. 

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