Japan Airlines Co. will return to the Tokyo Stock Exchange's first section Wednesday, two years and eight months after filing for bankruptcy in one of the country's biggest corporate failures.
Starting with a market value of ¥687.3 billion, JAL's relisting will be the world's second biggest initial public offering this year following Facebook Inc.
The airline's parent, the government-backed Enterprise Turnaround Initiative Corp. of Japan, is selling 175 million shares, or 97 percent of the total available. The ETIC is expected to nearly double the ¥350 billion in taxpayer money it invested in the carrier.