3-Jul-2012 6:22 PM

ANA to raise up to USD2.6bn in public share offering

All Nippon Airways (ANA) stated (03-Jul-2012) it will raise up to JPY211 billion (USD2.6 billion) through the issue of 914 million shares of common stock by way of public offering and 86 million shares through a secondary offering, to acquire new aircraft, including Boeing 787 equipment, and enhance its financial position. The sale process commenced on 03-Jul-2012 and the new shares will be priced between 18-Jul-2012 and 20-Jul-2012. ANA has hired Nomura Securities and the Japan securities arms of JP Morgan and Goldman Sachs among underwriters to handle the offering. Shares in the company plunged nearly 16% on concern the share issue will dilute the value of existing shares. The share issuance will increase the number of shares issued in the carrier from 2.52 billion to 3.52 billion shares. [more - original PR]

All Nippon Airways: “Through this offering of new shares, in expanding its future business portfolio, the Company is seeking to promote investment in strategic aircraft that have high economic efficiency, chiefly the state of the art Boeing 787s, which are important for network competitiveness in the international passenger business, which is a growth area, as well as establishing a financial base that is able to respond in a timely and flexible manner to future growth opportunities, aiming to establish a Multi-brand strategy based in Asia.” Source: Company statement, 03-Jul-2012.

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