Foreign Investors Shun Garuda IPO

By Leithen Francis

Garuda Indonesia’s initial public offering (IPO) has been scaled back dramatically, after receiving a poor response from foreign investors.

Indonesia’s government has set its price at 750 rupiah (US 8 cents) per share, the bottom of its earlier price range, which went as high 1,100 rupiah per share. The Indonesian government has also decided to only sell 26.7% of its ...

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