Reported 30 days ago
Boeing has initiated a stock offering aimed at raising up to $24.3 billion to bolster its finances after facing a significant strike by factory workers that halted production of key aircraft like the 737 MAX. The company is offering 112.5 million common shares and $5 billion in convertible securities, hoping to avoid a downgrade in its investment-grade credit rating. Following a series of financial losses and debt obligations, this capital raising is crucial to maintain its credit rating and address the financial strain from its ongoing labor and production issues.
Source: YAHOO