gmf-aeroasia.jpg GMF

Garuda Prepares To Sell Part Of GMF Aeroasia

Indonesian group announced plans for IPO on Monday (Sept. 11.)

Garuda Indonesia’s maintenance subsidiary is launching an initial public offering (IPO), which will mainly raise funds for the unit’s ambitious expansion plans.

Garuda announced more details of the IPO plan on Sept. 11. The subsidiary, GMF Aeroasia, intends to sell a stake of 20-30% and raise up to $300 million, the company told Aviation Daily recently. The share sale and listing process is expected to extend through early October.

This is an extract from an article published by our Aviation Daily premium service. To subscribe, please visit http://aviationweek.com/aviation-daily-0.

TAGS: Asia Pacific
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