Japan's ANA to raise over 850 mln dollars in share issue

0 Comments | AFP, February, 2006

TOKYO (AFP) — Japan's second largest airline All Nippon Airways said it will issue around 250 million new shares to raise more than 100 billion yen (850 million dollars) to buy new aircraft.

ANA said the offer price will be set between March 1 and March 3.

Under its plan, the firm will issue 230.5 million new shares, of which 130.5 million will be offered to Japanese investors and 100 million to overseas investors.

ANA has also set aside 19.5 million shares for possible over-allotment.

If fully subscribed, including the over-allotment, the firm's outstanding issued share capital base will expand by some 15 percent.

ANA said it will use the proceeds to buy new airplanes, but the company declined to say how many planes it plans to purchase.

© 2006 AFP