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Sriwijaya Air plans IPO in third quarter
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A PT Sriwijaya Air aircraft is seen at Syukuran Aminuddin Amir Airport in Luwuk, Central Sulawesi. (Kompas.com/I Made Asdhiana)
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rivate carrier PT Sriwijaya Air is planning to release shares to the public through an initial public offering (IPO) in the third quarter of the year, a delay from its initial target of March.
"We still want to do it this year. Maybe in August and if not, in September," Sriwijaya Air commercial director Toto Nursatyo said on Tuesday.
(Read also: Sriwijaya Air to open direct flights between Surabaya-Jayapura)
Toto declined to reveal the estimated proceeds from the IPO but the airline is planning to offer 25 percent of its shares.
Sriwijaya is looking to rent several narrow body and ATR aircraft and needs at least US$30 million in initial investment. “The appraisal [of the new aircraft] is still ongoing," he said. (tas)
