ANA to raise $3.2 billion in public offering to cope with pandemic

ANA Holdings Inc. said Friday it will raise up to 332.13 billion yen ($3.2 billion) by issuing new shares to bolster its financial base to weather the impact of the coronavirus pandemic and buy new aircraft.ANA, the parent company of All Nippon Airways Co., plans to use the proceeds from the offering of up to 140 million shares to purchase wide-body Boeing 787 jets as well as to repay debt.The latest fundraising plan follows 400 billion yen that the company has already secured in subordinated loans from major Japanese banks.The fiscal standing of ANA is seen as relatively stable compared wi…READ FULL ARTICLE