Boeing announces stock offering expected to raise up to $19 billion

Boeing announced a stock offering on Monday expected to raise up to $19 billion, saying proceeds will go towards repaying debt and investing in its subsidiaries.

It announced an offer to sell 90 million shares of common stock -- valued at around 13.9 billion at current market prices -- in addition to $5 billion in depositary shares. Boeing has in recent weeks announced measures to strengthen its cash position including a 10 percent reduction in its global workforce, amounting to around 17,000 positions cut.