TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) inaugurated the initial listing of Garuda Indonesia`s subsidiary, Garuda Maintenance Facility AeroAsia (GMF AeroAsia) today, October 10. GMF AeroAsia becomes the 25th issuer that went public this year, listed under the code GMFI.
"The stock of Garuda Maintenance Facility AeroAsia is now listed on the IDX under the code GMFI, and will be traded on the main board," IDX director for corporate assessment Samsul Hidayat said in Jakarta today.
GMF released 2.82 billion shares to the public of issue, which is worth 10 percent of the company's paid-in capital. In the initial public offering (IPO), the shares were offered for Rp400 per unit, garnering GMF Rp1.27 trillion proceeds.
GMF president director Iwan Joeniarto said the IPO proceeds will be used to for expansion activities and the construction of aircraft maintenance facilities in Batam, Australia, East Asia and the Middle East.