Merrill Lynch Japan Securities and Morgan Stanley MUFG Securities selected for Japan Airlines IPO

Enterprise Turnaround Initiative Corp of Japan (ETIC) stated (20-Jan-2012) Merrill Lynch Japan Securities and Morgan Stanley MUFG Securities have been selected as underwriters for the overseas part of the planned IPO of Japan Airlines (JAL). As previously reported, JAL is reportedly planning to raise between JPY500 billion (USD6.5 billion) and up to JPY1 trillion (USD13 billion) as early as Sep-2012. The carrier, which delisted after filing for bankruptcy in Feb-2010, reportedly plans to submit its IPO filing to the Tokyo Stock Exchange in Jul-2012. ETIC has invested JPY350 billion (USD4.5 billion) in the airline following its bankruptcy in 2010. [more - original PR - Japanese]