Government reviewing plans to establish committe to evaluate Garuda IPO

Indonesia's Government is reviewing plans to establish an independent evaluating committee to monitor and evaluate the realisation of Garuda Indonesia`s plan to raise up to USD350 million through an initial public offering (IPO) in Feb-2011 (ANTARA News/Jakarta Globe, 13-Jan-2011). The carrier commenced a series of investor meetings on 13-Jan-2011 in Singapore to gauge demand for its IPO. Garuda president director Emirsyah Satar said: "We are meeting with 26 institutions in Singapore. So far the response is positive. However, don't ask about a price range. We did not talk about price but value."