19-Jul-2012 8:34 AM

ANA prices share sale at JPY184/share to raise USD2.2bn

All Nippon Airways stated (18-Jul-2012) it has set a price of JPY184 (USD2.33) per share for its public offering in a move that could net the firm as much as JPY175.1 billion yen (USD2.2 billion) through the sale of 914 million shares of company stock (784 million shares in the Japanese public, 86 million in the international offering and a maximum of 44 million upon exercise of the option in the international offering). The price represents a 4.2% discount from the closing price of JPY192/share on 18-Jul-2012. The proceeds will be used to fund the carrier's purchase of Boeing 787s and boost its international network, with the company confirming, "Proceeds...estimated to be up to 175,111 million yen are planned to be used for capital expenditures, including the acquisition of aircrafts, chiefly the fuel-efficient Boeing 787 by the end of March 2015 for the main purpose of expanding the international route network". The subscription period runs from 19-Jul-2012 through 20-Jul-2012, with a payment date of 25-Jul-2012. [more - original PR]

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