Japan Airlines, targeting to raise roughly $8 billion in the world’s second-biggest initial public offering this year, will apply as early as Wednesday to re-list its shares in September, people with knowledge of the matter said.
The IPO underscores the former national carrier’s emergence from bankruptcy with r ecord p rofits. The sale will be second in size to social networking giant Facebook’s $16 billion offering this year, and the seventh-largest ever in Japan (EUREX: FMJP.EX – news) in yen terms, acco rding to Thomson Reuters (Toronto: TRI.TO – news) data.
The Japanese government, which injected 350 billion yen ($4.44 billion) into Japan Airlines (JAL (Frankfurt: 777495 – news) ) after it collapsed in January 2010 with $25 billion in debts, stands to double its investment if the IPO, slated for mid-September, is completed without a hitch.
Read the rest of the story: Japan Airlines to apply for September relisting after $8 bln IPO-source.