January 26, 2018 / 10:23 AM / 4 months ago

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

JAKARTA, Jan 26 (Reuters) - 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 ($59.03 million) in the offering of the 8.28 percent stake.

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

$1 = 13,306 rupiah Reporting by Cindy Silviana; Writing by Fransiska Nangoy; Editing by Jacqueline Wong

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