PT Aero Catering Services (ACS), a company under PT Garuda Indonesia Tbk (GIAA), is seeking an initial public offering (IPO) in the last quarter of this year.
Director Elisa Lumbantoruan at Garuda Indonesia said Garuda will discuss IPO with the management of PT Aerowisata Services as holding company of Aero Catering.
"If we want to fasten the IPO, it may be in the last quarter of 2012," he said as quoted by Bisnis Indonesia last week.
According to Elisa, there are two reasons to be considered by ACS such as preparation and the market situation. ACS will hold a due diligence in a bid to find out the readiness of the IPO.
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