Japan's Enterprise Turnaround Initiative to select underwriters for JAL share sale

Japan's Enterprise Turnaround Initiative Corp (ETIC) stated it would select underwriters by 15-Jul-2011 to sell its USD4.3 billion stake in Japan Airlines, the first step in a process to return the carrier to a publicly traded company in 2012 (Reuters, 02-Jul-2011). ETIC has not disclosed when or how much of the stake it will sell, but the sale could be one of the largest share offerings in 2012. JAL spokesman Seiji Takaramoto stated ETIC "said initially it would hold its JAL stake for three years, so we are considering a possible relisting in 2012. The decision on the underwriter is ETIC's, but we expect that it will do so after close consultation with JAL."