GARUDA UNIT TO RAISE UP TO 5.5 TRILLION RUPIAH FROM IPO

JAKARTA: Garuda Maintenance Facility AeroAsia, the aircraft maintenance and repair unit of Indonesian flag carrier PT Garuda Indonesia Tbk, is raising as much as 5.55 trillion rupiah (RM1.77 billion) from an initial public offering to help drive its expansion plans. GMF AeroAsia is selling a maximum of 10.9 billion new shares at a price range of 390-510 rupiah apiece, a term sheet shows. – Reuters