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Business

Garuda Indonesia maintenance unit seeks $300m in share sales

GMF AeroAsia will use IPO, strategic investors to expand, revamp Asia-Pacific ops

GMF AeroAsia operates a maintenance facility at Soekarno-Hatta Airport outside Jakarta. (Photo by Erwida Maulia)

JAKARTA -- The maintenance unit of flag carrier Garuda Indonesia aims to raise at least $300 million by selling shares via an initial public offering as well as to "strategic investors," a company executive said Monday.

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