Garuda Indonesia’s maintenance, repair and overhaul (MRO) subsidiary is launching an initial public offering (IPO), which will mainly raise funds for the unit’s ambitious expansion plans. Garuda announced more details of the IPO plan Sept. 11. The subsidiary, GMF AeroAsia, intends to sell a stake of 20–30% and raise up to $300 million, the company told Aviation Daily. The share sale and listing process is expected to extend through early October. Sixty percent of the IPO ...

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