Mustafa Abubakar:
No pressure was applied in determining the share price

THE results of Garuda Indonesia’s initial public share offering (IPO) set off considerable public debate. Close to a month after the IPO of the national flag-carrier, the Garuda shares failed to take off. As of Thursday last week, the shares encoded GIAA dropped to Rp510 from the Rp750 when it was first offered on the market in February 11. “We got caught in the downward trend of the global stock market,” said Mustafa Abubakar, State Minist

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