Reuters: Regulatory News: UPDATE 1-Japan Airlines looking to relist shares-Nikkei

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Japan Airlines looking to relist shares-Nikkei Jun 14th 2012, 18:03 June 14 | Thu Jun 14, 2012 2:03pm EDT June 14 (Reuters) - Japan Airlines Co (JAL) is looking to relist its shares on the Tokyo Stock Exchange (TSE) in mid-September, business daily Nikkei reported. JAL plans to file an application with the TSE as early as this month to relist its shares, and will make preparations assuming that its application will be approved on Aug. 16, and that its shares will start trading on Sept. 19, Nikkei said. At the time of relisting, JAL will be valued at nearly 600 billion yen ($7.57 billion) to 700 billion yen, beating rival All Nippon Airways Co's current total market value of about 550 billion yen, the Japanese daily said. The government-backed Enterprise Turnaround Initiative Corp of Japan (ETIC), which has invested about 350 billion yen ($4.42 billion) in JAL, aims to sell off about 96 percent of its stake by January 2013 once the stock is relisted, the daily reported. Receiving debt forgiveness and public fund assistance, JAL had embarked on large-scale business restructuring efforts, including 16,000 job cuts, the Nikkei said. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions