Garuda and Bank Mandiri start marketing for share sales

Investor education starts for the IPO of state-owned airline Garuda Indonesia, which could fetch about $500 million, while Bank Mandiri kicks off the domestic roadshow for its rights issue of up to $1.6 billion.

Investors looking to increase their exposure to Indonesia will have at least two potential targets to choose from early in the year as the government continues to reduce its stake in the country’s flagship assets. Yesterday, bankers started investor education for Garuda Indonesia’s upcoming initial public offering, which is expected to raise about $500 million, while Bank Mandiri kicked off the domestic roadshow for its rights issue that could raise as much as $1.6 billion.

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