IPOs Just Backward 5 Weeks

President Director of PT Garuda Indonesia (Persero) Satar said if his plans to go public only during the five-week retreat, not one year.

"IPO still process, we use financial statement of September. So it's not a one-year delay, but delay of five weeks from December 2010 to late January," said the Emir, on the sidelines of the event Garuda Travel Fair at the JCC, Jakarta, Friday (10/8/2010 .)

Meanwhile, VP Corporate Communications Garuda Pujobroto add financial statements as of September which will be used for the IPO will be completed in the third week of October. Next, it plans a roadshow to Europe and the United States (U.S.).

"IPOs are taking the financial statements of September, third week in October completed the audit. And our mid-January road show to Europe and the U.S. for one to two weeks. But not yet know to what country, but certainly to Europe and the U.S.," he explained.

He also was not sure how many shares will be released Garuda. "How many shares will be the IPO do not know. Depending on the share price later. Shares are released to the public a maximum of 40 percent, and the funds we need USD300 million for future development," he admitted.