Garuda postpones IPO
Nani Afrida, The Jakarta Post, Jakarta | Wed, 09/22/2010 3:34 PM
The government has put off the plan to sell stakes of State
Flag Carrier PT Garuda Indonesia through initial public offering (IPO) this year
as the company has yet to complete the audit process on its annual report.
Mahmuddin Yasin, deputy for privatization at the state
enterprises ministry, told reporters that the IPO would be in the second week
of January next year.
“The IPO will be put off next year. We will offer the stake
in January and list the stake to Indonesia Stock Exchange (IDX) in February,”
he said on Wednesday.
According Mahmuddin, the company has been doing its audit
report.
Through the IPO, Garuda will release a maximum of 40 percent
of shares gradually.
