JAKARTA -- The Indonesia Stock Exchange has warned that shares in embattled Garuda Indonesia may be delisted, as the country's flagship carrier embarks on a restructuring of its business and debt.
The IDX said in a brief statement late Monday that Garuda shares could be delisted if the company is "experiencing a condition, or event, which significantly negatively, affects the business continuity... and the listed company cannot show adequate indications of significant recovery." It also said a stock that had not been traded for 24 months would also be delisted.
