Japan Post triple listing to raise up to $14 billion
The government aims to raise 600-800 billion yen from the Japan Post Holdings Co offering, 500-700 billion yen from that of Japan Post Bank and 130-160 billion yen from Japan Post Insurance, said DealWatch, a Thomson Reuters publication, citing people familiar with the matter.
DealWatch said the IPO price for the bank and insurance units would be decided on October 19 and that for the holdings company on October 26. The domestic portion of the offering for all offers will target 95 percent retail investors, it added.
The Japan Post firms are expected to list on the Tokyo Stock Exchange on Nov. 4 after receiving approval on September 10, Reuters reports. ■