JAL shares rise on partial re-listing

JAL shares rise on partial re-listing

Japan Airlines saw a marginal rise in shares on its re-listing on the Tokyo stock exchange.

The airline’s shares rose 1%, trading at 3,830 yen up from 3,790 yen.

The return to the stock exchange in a 663 billion yen £5.2bn initial public offering follows the airline gaining a government-backed bail out in 2010.

It comes more than two years after JAL filed for bankruptcy in one of Japan’s biggest corporate failures.

The IPO is the second biggest share sale this year in the world after Facebook.

JAL reported record operating profits in the first two years after bankruptcy, backed by massive cost cuts, tax breaks and debt waivers.

The re-listing comes amid tensions between Japan and China over a group of disputed islands, which have sparked widespread anti-Japan protests in China and calls for a boycott of Japanese goods and services, the Financial Times reported.


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