Government again postpones Garuda Indonesia IPO
Indonesian Government announced plans to again delay Garuda Indonesia’s IPO to next year (AFP/Dow Jones, 22-Sep-2010/ANTARA News, 23-Sep-2010). The government has decided to delay the sale so as to include more up-to-date information in the offering prospectus, including the carrier’s 3Q2010 results, and hopes the market situation will also be “much better early next year”. The offering is now scheduled for the second week of Jan-2011, with the shares to be listed in Feb-2011. Garuda had planned to launch the offering of up to 30% of the carrier in Nov-2010.