Price set for Japan Post Holdings IPO
Japan’s government is set to raise about $11.9bn through the privatisation of Japan Post and its banking and insurance units. Shares in the parent company Japan Post Holdings have been priced at 1,400 yen, which is at the top end of the marketed range. Shares in the financial units were also offered at the maximum last week.
The Japan Post sale will be Japan’s biggest privatisation in three decades, and the world’s biggest initial public offering (IPO) since Alibaba’s last year. Sources report that about 11% of the three companies will be sold in the IPO.
Around 80% of the shares are being offered to individuals, as Japan’s Prime Minister Shinzo Abe wants to encourage households to invest more of their savings.
Japan Post Holding and its banking and insurance units will list on the Tokyo Stock Exchange on Wednesday next week (4 November).
