Japan's ANA shares drop on report airline to raise $1.9b in share sale

Shares of Japan’s ANA Holdings Tuesday sank as much as 4.2% after sources said the country’s biggest airline plans to raise about 200b yen ($1.9b) by selling new shares to bolster its balance sheet. ANA Holdings will hold its first share sale since 2012, Reuters reported on Saturday. The company said in a statement on Tuesday that nothing has been decided on new share sale. ANA’s stock was down 2.9%, as of 0130 GMT, against a 2.6% jump in the benchmark Nikkei 225 Stock Average, as trading in Tokyo resumed after a long weekend. The airline has forecast a record operating loss of $4.82b for the year through March 31 due to the pandemic.<br/>