REPUBLIKA.CO.ID, JAKARTA - National flag carrier Garuda Indonesia to launch rights issue as one of three options to seek fund. Two other options are from bank loan and bond issuance. 

"We will proceed the rights issue in the second semester, untill the Extraordinary General Meeting," President Director of Garuda Indonesia, Emirsyah Satar, said in Jakarta.

Garuda will sell 10 percet of shares through rights issue. The company has submitted its audited third-quarter financial reports to the Indonesian Stock Exchange (IDX) on Friday. 

Satar added that the company planned to issue bonds at the end of first semester as much as 2 trillion IDR. Garuda appointed Bahana Securities and Mandiri Securities as its financial advisors. 

Garuda will not distribute dividens to shareholders untill 2016 as the company tied on an agreement with creditors since last year. The company offered 30 percent of its shares in initial public offering (IPO) on February 11, 2011. 

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