PT Cardig Aero Services is planning to hold an initial public offering (IPO) in October 2011. "Cardig Aero is expected to hold the IPO. They have submitted the documents to Bapepam-LK," said Gonthor R. Azis, Bureau Head of Services Sector at Bapepam-LK, as quoted by Kontan today.
Cardig Aero has mandated the underwriter to PT Bahana Securities. The IPO proceed will be used by Cardig to pay its debt, expansion, and working capital. However, Gonthor is unable to comment regarding to the proceed.
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