The Indonesian government has downsized the initial public offering of the national flag carrier Garuda Indonesia amid uncertainty in the local stock market over recent weeks. At the same time the government also decided to set the price of the airline’s shares at Rp 750 (US$0.08) below its initial target of above Rp 1,000 per share. State-Owned Enterprises Minister Mustafa Abubakar said that his office had decided to fix the price of the airline’s shares at the bottom-end of the previously set price range of between Rp 750 and Rp 1,100 per share. “We don’t want to see Garuda suffer

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