Sullivan & Cromwell, Nagashima Ohno on $8.5 Billion JAL Offering
Japan Airlines is relisting its shares after $30 billion bankruptcy in 2010. If successful, the IPO will be the world's second-largest this year, following Facebook Inc.'s $16 billion Nasdaq offering in May.
By Jessica Seah|August 10, 2012|Originally published on International
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The government is hoping to recoup its funds through the IPO. ETIC will sell 175 million shares at $48 apiece, according to the issuer’s filing with the stock exchange. If successful, the IPO will be the world’s second-largest this year, following Facebook Inc.’s $16 billion Nasdaq offering in May.
Sullivan & Cromwell Tokyo partner Izumi Akai is advising Japan Airlines on global aspects of its offering while Nagashima Ohno is acting as Japanese counsel.
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