Japan aims to raise Y1.4 tril in Japan Post share sale
Japan Today -- Sep 12
Japanese said Monday it would sell off another chunk of the country's massive postal service in a share sale that could raise up to 1.4 trillion yen.

Tokyo said it would sell up to 990 million shares in Japan Post, or about 22 percent of its outstanding shares, the finance ministry said in a statement.

The sale could raise 1.4 trillion yen based on Monday's closing price of 1,321 yen. The sale price will be decided sometime between September 25 and 27, it added.

After years of delays, 1.43 trillion yen was raised in an initial public offering in late 2015 that included shares in Japan Post's banking and insurance units.

The bulk of proceeds from selling shares in the government-owned behemoth were earmarked for reconstruction efforts after Japan's 2011 quake-tsunami disaster.

The earlier sale came amid hopes starting to privatise what is effectively the world's biggest bank by deposits could boost investor sentiment and spur efforts to cut red tape in Japan's highly regulated economy.

The sprawling postal group has a network of some 24,000 bureaux across the nation and sits on assets worth more than 290 trillion yen.

財務省は11日午後、政府が持っている日本郵政の株式を追加売却すると発表しました。売却額は約1兆3000億円です。収入は東日本大震災の復興財源に充てられますが、北朝鮮情勢などで株価が低迷した場合、売却する株数が減る可能性もあります。
News sources: Japan Today, ANNnewsCH
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