September 20, 2012

The Enterprise Turnaround Initiative Corp of Japan Pocketed USD 3.8 Billion Profit From Japan Aiirlines' Re-Listing

Further to our post on August 3rd, Japan Airlines Co. is now re-listed at Tokyo Stock Exchange. This morning the carrier's market capitalization reached JPY 690 billion (USD 8.8 billion) making it the second largest IPO in this year only after Facebook. The Enterprise Turnaround Initiative Corp. of Japan supplied a total of JPY 350 billion (USD 4.5 billion) in support of the collapsed airline in 2009.  Today ETIC is cashing in JPY300 billion (USD 3.8 billion) profit for the benefit of tax payers.  There are some big deals in Japan. 

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