JAL all set to raise $8.5 billion

IPO priced at $48 has enabled the carrier to raise the money


attractive pricing initial public offering investors JAL Japan Airlines September 19 shares Tokyo Stock Exchange


Japan Airlines hopes to raise $8.5 billion after pricing its initial public offering at $48 (3,790 yen). Investors said that the 3,500-3,790 yen range set in late August was cheap. The attractive pricing will help JAL with a market capitalisation of $8.8 billion. The company’s shares will be listed on Tokyo Stock Exchange’s First Section on September 19.