TOKYO -- Japan Airlines is raising 663
billion yen ($8.5 billion) in its initial public offering, pricing its
shares at the top of its range at 3,790 yen ($48 a share). That makes it
the world's second biggest IPO this year after Facebook.
Tokyo-based carrier, which went bankrupt in 2010, will be nearly
doubling the money the government-backed bailout body pumped in. It
announced the pricing Monday, the highest in a range that started from
3,500 yen ($45), underlining healthy investor demand for the shares.
company posted a profit 187 billion yen ($2.4 billion) profit for the
fiscal year ended March 2012, an impressive feat considering the beating
that global carriers have taken with price competition and surging oil