GMF Set to Become First Indonesian MRO Company to List on IDX
Garuda Maintenance Facility AeroAsia (GMF), the pioneer of MRO (Maintenance, Repair, and Overhaul) or integrated aircraft maintenance in Indonesia, is days away from becoming a publicly listed company, with GMF’s initial public offering (IPO) receiving effective statement today from Indonesia's Financial Services Authority (in Indonesian: Otoritas Jasa Keuangan, or OJK).
A total amount of 2,823,351,100 new shares will be issued to the public - an equivalent of 10 percent of the issued and paid up capital of GMF after the IPO.
The initial plan was 10,890,068,700 number of shares that represents a maximum of 30 percent of the company’s issued and paid-up capital after the IPO, with 20 percent of the portion allocated to public investors and 10 percent to strategic investors.
President Director of GMF AeroAsia, Iwan Joeniarto said that after examining the interest of both public and strategic investors during the book-building period, to optimize the value of the company, GMF decided to allocate 10 percent of its shares to the public through the IPO and 20 percent to strategic investors after the IPO has been realized. The distribution of shares is expected to expedite GMF's vision of becoming one of the top 10 MROs in the world.
"We are confident and optimistic that this is the best way to increase the value of the company and contribute more to Indonesia," Iwan said.
The offering period for public investors will be held between 2-4 of October 2017 at the Datindo Entrycom Share Registrar Office located in Jl. Hayam Wuruk 28, 2nd Floor, Central Jakarta.
Iwan added that this corporate initiative will help improve the nation’s economic development. “By offering our shares, GMF can expedite its expansion plans which can, therefore, create more jobs, deliver more value to shareholders, and generate more taxes for public services. We will continue to support the Indonesian economy,” he said.
GMF has appointed Mandiri Sekuritas, Bahana Sekuritas, Danareksa Sekuritas and BNI Sekuritas as Joint Lead Underwriters. Together with the Joint Lead Underwriters, GMF sets the company's IPO price at IDR 400 per share.
“Through this IPO we invite Indonesian society to become part of GMF and contribute to the Indonesian economy. By implementing GCG, GMF strives to provide the best value-added for all shareholders,” Iwan said.
About GMF
Garuda Maintenance Facility Aero Asia Tbk (GMF) is an MRO (Maintenance, Repair, and Overhaul) company that provides integrated and reliable aircraft maintenance solutions with more than 70 years of experience. GMF implements the highest commitment in creating air traffic security with a service capacity of 1,000 flights per day in 60 countries through 47 Line Maintenance Stations worldwide.
With 4,352 permanent employees, GMF services include aircraft maintenance, repair and modification, technical analysis, logistics, cabin maintenance, spare-parts supply, to technician training. GMF has 34 aviation certifications from 25 countries that ensure the safety and credibility of GMF as a global standard MRO. In 2017, GMF received the 'very high-quality MRO' from the FAA (Federal Aviation Administration) of United States and received the title of 'low-risk MRO' from the same authority in 2016. GMF also received sustainable certification from EASA (Europe Aviation Safety Agency), CASA (Civil Aviation Safety Authority) of Australia, and the Directorate General of Civil Aviation Indonesia. GMF has been certified AMTO (Approved Maintenance Training Organization) 147 from EASA and is the only Airbus Remote Training Center (ARTC) in the world.
For further information, please contact:
PT Garuda Maintenance Facility Aero Asia Tbk
VP Corporate Secretary
Mohamad Arif Faisal
Phone: +62.21.5508.717 / 8737
Email: m.arif@gmf-aeroasia.co.id
corporatecommunication@gmf-aeroasia.co.id
www.gmf-aeroasia.co.id