He said one of the national airline companies wished people from various regions in the country could own the company`s shares.
"To promote the effort Garuda would conduct a roadshow in five cities namely Jakarta, Surabaya, Medan, Palembang and Makassar," he said during the roadshow here.
Bahana Sekuritas is one of the underwriters for the state-owned airline company`s initial public offering.
Sunu said he did not target a certain number of local investors but "if it is possible we could get as many as possible both institutions and individuals."
PT Garuda plans to sell 9,362,429,500 shares or 36.48 percent of its total shares consisting of 7,426,691,500 new shares (28.93 percent) and 1,935,738,000 divestment shares (7.54 percent) from PT Bank Mandiri.
The shares are to be offered at between Rp750 and Rp1,100 per share. The price will be fixed by the state enterprises ministry after the roadshow and book building activities were finished on January 24.
"The Garuda management wishes to be able to get the most premium price so that the funds to be collected would be maximal," he said.
PT Garuda`s technical director Hadinoto Soedigno meanwhile said that Rp4 trillion to Rp5 trillion targeted from the initial public offering would be mostly used for expansion purposes while the rest for infrastructure and information system improvement.
"Around 80 percent of the IPO proceeds would be used for increasing the fleet because in the next five years` time we are targeting to operate 130 to 150 planes," he said.
He said the business prospects in air transportation was very bright with an average growth of passengers reaching around 12 percent a year.
At present Garuda operates 87 modern units of aircraft to serve 19 international and 13 domestic routes.
(Uu.H-YH/HAJM/P003)
Editor: Priyambodo RH
Copyright © ANTARA 2011
