Mar 14, 2012

Garuda to be sold at 10% premium

Minister of State-Owned Enterprises Dahlan Iskan again signaled the government intention to help seeking potential investors for PT Garuda Indonesia Tbk (GIAA) shares that are now carried by three lead underwriters.
According to Dahlan, who likes to show his controversy using sport foot wear during his working hours, the underwriters, PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas, have agreed to sell Garuda shares in bundling at 10% premium of the current market price. If those underwriters could realize the sale, the price was still below the IPO.
Dahlan also offered Garuda shares to five businessmen such as Chairul Tanjung, Sandiaga Uno, Rachmat Gobel, Nirwan Bakrie, and Anthony Salim.

Disclosure: No position at the stock mentioned above.

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