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Up to 20 investors express interest in Garuda Indonesia IPO

28-Apr-2010 11:32 AM

Garuda Indonesia CEO, Emirsyah Satar, stated up to 20 investors from Australia, Japan and the US have expressed interest in its IPO planned for 3Q2010 (, 27-Apr-2010). Funds raised from the offer will be used for commercial expansion. Five potential underwriters are also being considered for the float. The carrier plans to sell 40% of its shares to raise approximately USD300 million. Mr Satar added the carrier expects to retire its restructured debt of approximately USD516 million by 2016.