Boeing launches $19B share sale to thwart downgrade

[Yo_Mama_Been_Loggin]

Source: Bloomberg

By Siddharth Philip and Julie Johnsson / Bloomberg

Boeing launched a nearly $19 billion share sale, one of the largest ever by a public company, to address the troubled planemaker’s liquidity needs and stave off a potential credit rating downgrade to junk.

The company offered to sell 90 million common shares and about $5 billion of depositary shares, according to a statement Monday.

The common-share portion alone would total just under $14 billion, based on Friday’s closing price of $155.01. That would be the largest share sale since SoftBank Group Corp. sold part of its stake in T-Mobile in 2020, data compiled by Bloomberg show.

As of noon Monday, Boeing shares had fallen just over 1% in U.S. trading.

Read more: https://www.heraldnet.com/news/boeing-launches-19b-share-sale-to-thwart-downgrade/

[VMA131Marine]

1. Don't call it a sale, call it a reverse share buyback

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[Fichefinder]

2. Buy backs have artificially raised the value of their stock

When it hits the open market it will certainly drop. Might trigger a computer selloff.