Garuda jumps on government stock buy plan
Asia Pacific airline shares finished the week lower, with the exception of Garuda Indonesia, which gained 6%. The Indonesian Government plans to request PT Jaminan Sosial Tenaga Kerja and PT Perusahaan Pengelola Aset purchase shares owned by the underwriters of the carrier’s IPO at IDR550 to IDR600 per shares. The increase was the largest single-day gain since the carrier listed on 11-Feb-2011.
