JAL to return to Tokyo bourse with $8.5 billion IPO

Japan Airlines JAL is rebounding from bankruptcy with plans to raise about 663 billion $8.5 billion from an initial public offering in Tokyo, slated for mid-September.

The carrier’s widely expected comeback to the Tokyo Stock Exchange, which it announced on Friday, marks a quick return to the bourse since delisting in early 2010, when it filed for bankruptcy with debts of 2.3 trillion. Two years on, JAL posted a record operating profit of 205 billion for the latest fiscal year, which ended in March.

If successful, it will be Japan’s third-biggest IPO on record, after NTT Mobile Communications Network’s $18 billion offering in 1998 and Dai-ichi Life...