Garuda Indonesia Completes Major Private Placement

Significant Discount Raises Market Questions

PT Garuda Indonesia (Persero) Tbk (GIAA) has successfully completed a private placement worth Rp 23.67 trillion, issuing new shares at Rp 75 per share. This price represents a significant discount to the current market price of Rp 106, which was the closing price on December 1, 2025, when GIAA shares rose by 3 points or 2.91%.

Market Reaction and Investor Implications

The substantial discount has raised concerns among retail investors about the potential impact on GIAA's stock performance. The entire Rp 23.67 trillion issuance was absorbed by PT Danantara Asset Management (DAM), a move that demonstrates strong institutional interest. However, retail investors are now evaluating whether to buy or sell their GIAA shares in light of this development.

Financial Impact and Future Prospects

The private placement significantly strengthens Garuda Indonesia's capital position, potentially enhancing its ability to execute strategic plans. The airline's management will need to balance shareholder interests with the need for capital injection. The market will be watching closely how this capital injection translates into business performance and shareholder value in the coming months.