Garuda Indonesia will file for an initial public offering (IPO) in April. The Indonesian flag carrier is hoping to raise 1.6 trillion rupiah ($135 million) from a rights issue, according to its stock exchange filing. Garuda, which has undergone what it calls a Quantum Leap business transformation program over the last three years, will issue 3.2 billion shares through joint underwriters Bahana Securities, Mandiri Sekuritas and Danareksa. The airline said that 80% of the cash raised would be ...

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