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Japan aims to raise around $12 b in postal giant share sale

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12th-Sep-2017       
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AFP, Tokyo :
Japan said Monday it would sell off another chunk of the country's massive postal service in a share listing expected to raise about $12 billion.
Tokyo is unloading up to 990 million shares in Japan Post, or about 22 percent of its outstanding shares, after an initial public offering in 2015 that began a long-delayed privatisation of the state-owned behemoth.
The latest sale could raise 1.3 trillion yen ($12 billion) based on Monday's closing price of 1,321 yen. The selling price will be decided between September 25 and 27, the finance ministry said.
Some 1.43 trillion yen was raised in an IPO nearly two years ago that included shares in Japan Post's banking and insurance units.

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