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GARUDA INDONESIA URGED TO POSTPONE IPO

Dino D'Amore
By Dino D'Amore Dec 01, 2010 0 mins read
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GARUDA INDONESIA URGED TO POSTPONE IPO

Government officials are urging Garuda Indonesia to postpone its initial public offering (IPO) to prevent a potentially low sales price.

"It [the IPO] must be delayed until we consider it sound in terms of finance, ranking and transparency," Nurdin Tampubolon, the vice chairman of House of Representatives’ Commission VI overseeing state-owned companies.

A low price would result in a "loss to Garuda and automatically the public" warned Tampubolon.

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