Japan Airlines is planning to raise around $4.9 billion through a sale of shares, Reuters reports. The bidding process for the shares will remain open until July 11, 2011.

The shares of the company will be tradable on Tokyo Stock Exchange, where the company will be re-listed by second half of 2012. The lead arrangers of the re-listing are Nomura Holdings, Daiwa Securities, Mitsubishi UFJ Morgan Stanley, Mizuho Securities and SMBC Nikko Securities.

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