Japan Airlines Co.'s initial public offering of $8.5 billion is said to be priced at 3,790 yen, which is the top end of the tentative range of 3,500 yen - 3,790 yen, according to media reports.
Reports added that the final price is likely to be announced later Monday, and JAL would begin trading on the Tokyo Stock Exchange September 19, capping a turnaround from bankruptcy which included paring more than a third of its workforce, scrapping routes and retiring older planes.
The carrier is returning to the stock market after a 2-year turnaround in bankruptcy protection that transformed it into the world's most profitable airline.
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by RTT Staff Writer
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