PT Mandiri Sekuritas, PT Danareksa Sekuritas and PT Bahana Securities will help arrange the initial public offering of PT Garuda Indonesia, Indonesian carrier. Indonesian Goverment plans to divest maximum 40 percent shares of Garuda, include PT Bank Mandiri Tbk and PT Angkasa Pura II shares. Garuda Indonesia record first-half netincome may have fallen to IDR175 billion.
Garuda plans to raise between $250 million and $300 million in an initial public offering this year to add new aircraft and expand its network.
The company will take delivery of 23 Boeing Co. 737 aircraft this year and plans to have 90 such planes by 2014.
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