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Indonesian Government confirms Garuda Indonesia to offer up to 25% of shares in IPO

20-Jan-2010 11:33 AM

Indonesian Government confirmed Garuda Indonesia plans to offer up to 25% of shares in an IPO, to be launched in 2Q2010 (Travel Mole, 19-Jan-2010). Capital raised from the offering will be used to fund the carrier’s expansion plans. 100% of the carrier’s debtors recently accepted Garuda’s financial restructuring.