GARUDA INDONESIA BEGINS IPO PRE-MARKETING

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 5, 2011 21:23

GARUDA INDONESIA BEGINS IPO PRE-MARKETING

Garuda Indonesia has begun pre-marketing for a $500 million initial public offering (IPO), an increase on the $400 million that Emirsyah Satar, Garuda’s president director, announced to investors in November.

Some 9.36 billion shares will be sold in the airline – 79% in new shares and 21% of existing stock. The airline will begin meetings with investors on January 14, before being listed on the Jakarta stock exchange on February 11. Once listed, 36.5% of the company will be in public hands.

Citigroup Inc. and UBS AG are handling the sale internationally, while PT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri Sekuritas are overseeing it within India.

The company will use the proceeds from the IPO for capital expenditure, and other corporate payments, according to the term sheet.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 5, 2011 21:23
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Fgaruda-indonesia-begins-ipo-pre-marketing%2F"> registered </a> users can comment.