Food and beverage company GarudaFood through its entity of PT Suntory Garuda Beverages seeks as much as US$200 million from initial public offering (IPO) in the near future. GarudaFood has submitted IPO‘s documents to the Indonesia Stock Exchange (IDX) and currently looking for the right time to conduct mini exposure next week.
GarudaFood plans to release 10% of the issued and paid-up shares. Indopremier Sekuritas will act as the underwriter of the offering. The company’s IPO plan has been growing since last year. The company was rumored to be able to raise funds of US$200 million from IPO.