Tokyo bourse approves relisting of Japan Airlines

TOKYO (AFP) - The Tokyo Stock Exchange said on Friday it had approved the relisting of Japan Airlines (JAL), the flag-carrier that went bust in one of the nation's biggest-ever bankruptcies more than two years ago.

JAL, which went bankrupt in January 2010 and its shares delisted the following month with debts totalling 2.32 trillion yen (S$37 billion), is to list again on Sept 19, the exchange said.

The carrier may raise as much as 600 billion yen through the share offering, Jiji Press news agency reported, nearly double the 350 billion yen worth of public money spent to keep the carrier afloat during its restructuring and the biggest share sale in Japan this year.

The company declined to say how much the offer would raise because the pricing of the deal had yet to be decided.