Indonesia plans privatisations this year

Garuda and Krakatau Steel will be the first of Indonesia's many SOEs to raise cash in the equity market this year, deputy minister Parikesit Suprapto tells a Hong Kong audience.

Indonesia's plan to sell stakes in two major state-owned enterprises SOEs is on track, according to Parikesit Suprapto, deputy minister of SOEs for financial institutions.

Garuda's long-awaited initial public offering is likely to be launched in the third quarter, and could raise up to $400 million. The national airline has recently reached an agreement to restructure its debts with the European Credit Agency, which is its biggest creditor.

The government also intends to sell a 30% stake in...

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