JAKARTA: PT Garuda Maintenance Facility AeroAsia, a unit of national carrier PT Garuda Indonesia, plans to raise as much as US$300mil in an initial share sale to fund setting up of a new unit in an island near Singapore and expand overseas.
GMF AeroAsia, which conducts maintenance, repair and overhaul of aircraft for 170 customers, will offer between 20% and 30% of its equity to investors and is targeting an October listing on the Indonesia Stock Exchange, said president director Iwan Joeniarto.
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