Friday08 November 2024
rating.net.ua

Boeing raised a record $21 billion through the sale of shares.

The largest aircraft manufacturer in the United States is striving to overcome the effects of the crisis and prevent a downgrade in its credit rating.
Boeing привлек рекордные $21 млрд, продав акции.

The American aerospace giant Boeing has conducted one of the largest stock sales in the history of public companies, raising approximately $21 billion. The company sold 112.5 million common shares at $143 each, which is 7.7% lower than last Friday's market price.

This was reported by Bloomberg.

The decision was driven by a number of critical challenges facing the company:

  • a prolonged seven-week strike that paralyzed production;
  • expected costs of $14 billion by the end of the year;
  • a 42% decline in share value since the beginning of the year;
  • the impacts of the pandemic and previous Boeing 737 Max crashes.

The new CEO, Kelly Ortberg, hopes to use the raised funds to maintain the investment rating and to restore production after the strike concludes. The company anticipates that cash outflows will continue into the first half of next year, especially during the relaunch of the 737 Max production lines.

Background. Earlier, Mind reported that Boeing is preparing for a significant financial maneuver, planning to raise over $15 billion in capital through a combined sale of common and convertible preferred shares.