Indonesia-based aircraft maintenance, repair and overhaul (MRO) company Garuda Maintenance Facility AeroAsia (GMF AeroAsia) plans to complete a private placement in the second quarter of 2018. At the extraordinary general meeting - scheduled for 6 March 2018 - the topic of private placement will be high on the agenda. GMF AeroAsia is expected to sell a stake between 10 and 20 percent to a strategic investor.
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Today's Headlines GMF AeroAsia
Garuda Maintenance Facility AeroAsia (GMF AeroAsia), the aircraft maintenance and repair unit of Indonesia's national flag carrier Garuda Indonesia, allotted USD $100 million to its capital expenditure budget in 2018. This includes the funds that are required for the company's expansion plans to the Middle East. GMF AeroAsia raised IDR 1.13 trillion (approx. USD $84 million) through an initial public offering (IPO) on the Indonesia Stock Exchange in 2017.
Garuda Maintenance Facility AeroAsia (GMF AeroAsia), an Indonesian company engaged in the aircraft maintenance repair and overhaul sector, made its trading debut on the Indonesia Stock Exchange on Tuesday (10/10). It was the 25th company that completed its initial public offering in Indonesia in 2017.
Garuda Maintenance Facility AeroAsia, the aircraft maintenance and repair unit of Indonesia's national flag carrier Garuda Indonesia, is set to sell a 30 percent stake in an initial public offering (IPO) on the Indonesia Stock Exchange in early October 2017. The offering period is scheduled for 2-4 October 2017.
Latest Columns GMF AeroAsia
Garuda Maintenance Facility AeroAsia (GMF), the pioneer of MRO (Maintenance, Repair, and Overhaul) or integrated aircraft maintenance in Indonesia, is days away from becoming a publicly listed company, with GMF’s initial public offering (IPO) receiving effective statement today from Indonesia's Financial Services Authority (in Indonesian: Otoritas Jasa Keuangan, or OJK).
Reportedly, Garuda Maintenance Facility AeroAsia (GMF AeroAsia), the aircraft maintenance and repair unit of Indonesia's national flag carrier Garuda Indonesia, raised only IDR 1.27 trillion (approx. USD $95 million) from its initial public offering (IPO) on the Indonesia Stock Exchange.
After it was reported that Garuda Indonesia, Indonesia's state-controlled national air carrier, postponed its rights issue, the company stated that it highly doubts an initial public offering (IPO) of its subsidiary Garuda Maintenance Facility (GMF) AeroAsia on the Indonesia Stock Exchange (IDX) in 2013. The reason for this postponement is current lingering uncertainty that plagues emerging markets, including Indonesia, since May 2013. Uncertainty about the future of the Federal Reserve's quantitative easing program led to a large outflow of foreign funds.
Garuda Indonesia, one of the major airlines in Indonesia, has announced to conduct a rights issue in October 2013. Through the rights issue, which involves the issuance of 10 percent of new shares, Garuda aims to reap USD $200 million. Garuda was a fully state-owned company before its initial public offering (IPO) in early 2011 when it released 30 percent of its shares. However, Indonesia's House of Representatives (DPR) had approved total public offering up to 40 percent. The remaining 10 percent is now offered through the rights issuance.
Associated businesses GMF AeroAsia