JAKARTA: Ministry of State Enterprises (SOEs) expects the share price at PT Garuda Indonesia's initial public offering (IPO) to be around IDR1,000 per share. Minister of SOEs Mustafa Abubakar said that the ministry will set the best price for the flag carrier's IPO, by taking into account the market interest and the company's condition.We expect Garuda's IPO price to be at IDR1,000 per share. Yet, the final price will be determined by underwriter and the company itself, he said today.According to Mustafa, the shares to be released to public includes the 10.61% holding of PT Bank Mandiri (Persero) Tbk.Meanwhile, regarding the local-foreign portions, Mustafa expects local to have bigger portion under a composition of 70%:30% for local. (NOM)
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