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Garuda to Sell 10% Stake and Issue Bonds

 National airline Garuda Indonesia plans to sell a 10 percent stake in a rights offering this year, president director Emirsyah Satar said after a shareholder meeting in Jakarta on Friday.

Emirsyah did not provide the terms of the rights offerings plan. A 10 percent stake of Garuda is valued at around Rp 1.45 trillion ($149 million), based on Garuda’s

Rp 640 share price on the Indonesia Stock Exchange at the close of trading on Friday.

The shares rose 4.9 percent on Friday, outpacing the 0.3 percent fall in the main stock gauge in the local bourse.

Garuda also plans to sell Rp 2 trillion of rupiah-denominated bonds this year, Emirsyah was reported as saying by Bloomberg. Emirsyah did not disclose the price terms of bond sale plan.


[Last update: 2013-04-29 11:17:52]

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