Garuda Indonesia’s maintenance, repair and overhaul (MRO) 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 Sept. 11. The subsidiary, GMF AeroAsia, intends to sell a stake of 20%-30% and raise up to $300 million, the company said. The share sale and listing process is expected to extend through early October. Sixty percent of the IPO proceeds will be ...

Subscribe to Access this Entire Article

"Garuda MRO subsidiary to launch IPO" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? Log in here.