JAKARTA (Yosefardi) – PT Garuda Maintenance Facility (GMF) AeroAsia, the maintenance and repair unit of PT Garuda Indonesia Tbk (GIAA), expects to launch the initial public offering (IPO) in first quarter of next year.
The company has reportedly appointed PT Mandiri Sekuritas as financial adviser for IPO. It targets to raise US$100 million, equivalent Rp1 trillion, through IPO, for expected 20% shares offering.
GMF AeroAsia plans to use US$50 million for funding its hangar project and US$30 million for purchasing spareparts.