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Indonesia's GMF AeroAsia to raise US$59m in new share sale

[JAKARTA] Indonesia's PT Garuda Maintenance Facility AeroAsia said on Friday it would sell 2.34 billion new shares at a minimum price of 336 rupiah a piece in a share sale.

The company, a unit of flag carrier PT Garuda Indonesia , said in a statement it could raise 785.48 billion rupiah (S$77.2 million) in the offering of the 8.28 per cent stake.

The sale of new shares would be part of its stake sale to a strategic investor, where it planned to sell a 20 per cent stake.


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