Boeing has successfully attracted about $ 21 billion because of extended sales of shares, which has become one of the largest public companies in history. This decision was made to stabilize the financial condition of the company and avoid possible reduction of credit rating.
According to Bloomberg, the US aircraft manufacturer sold 112.5 million ordinary shares at a price of $ 143 for each. The stock price was set at a discount of approximately 7.7% of Friday closing at $ 155.01. Boeing also implemented depository shares worth $ 5 billion.
During the pre -trading period, the company's shares decreased by 0.5% and fell by about 42% for this year, making Boeing the second worst among Dow Jones Industrial Average.
This financial step should solve one of the most remedial tasks of the new CEO Kelly Ortberg against the background of the company's financial difficulties. Boeing has already suffered from the pandemic, as well as two crashes of the 737 Max aircraft, which is the main model of the company. An additional problem was a strike that has been going on for the seventh week and blocking the production of aircraft.
Boeing needs these funds to keep the investment rating and financing an increase in production after the strike is over. In the fourth quarter, it is expected that the company will spend about $ 4 billion in cash, which will be about $ 14 billion in a year. Boeing also predicts that cash costs will last in the first half of the next year, when the operation of the factories, including 737 MAX collection lines.
We will remind, Boeing plans to raise more than $ 15 billion capital from Monday. However, 64% of workers voted against the latest offer of the company, and it was rejected. Boeing Strikers, who held voting on October 23, approved a new contract, which provides for a 35% wage increase for four years, which can put an end to a long five -week strike. At the same time, Boeing announced a reduction in 10% of the total number of employees.
