JAKARTA. The initial public offering (IPO) for national flag carrier Garuda Indonesia may be delayed with the airline yet to submit required documents to the stock market supervisory agency, a stock market authority official says.
Garuda must file all necessary documents by Friday if it plans to go ahead with the IPO scheduled for Feb. 11, Capital Market Supervisory Agency (Bappepam) company finance evaluation chief M Noor Rachman said Monday .
Garuda Indonesia was not available for comment on the issue. Previously Garuda had announced plans to offer up to 30 percent of its shares to the public, targeting to raise US$300 million. (The Jakarta Post)
Editor: Edy Can
