Japan Post's 3 IPOs could be worth US$12b in total
Tokyo is counting on trust in one of Japan's best-known, most stable companies to propel offerings to success
Tokyo
STATE-OWNED Japan Post on Wednesday set indicative price ranges for a trio of initial public offerings in what it hopes to make a "must-have", US$12 billion privatisation, Japan's biggest in three decades.
In IPOs set for Nov 4 squarely targeted at the country's mom-and-pop investors, Japan Post Holdings Co and two financial units - an insurer and a bank - plan to raise up to 1.4 trillion yen (S$16.4 billion) in total. The newly set ranges encompass preliminary prices set last month.
Tokyo is counting on trust in one of Japan's best-known, most stable companies to propel the IPOs to success, even as fears over China's economy jangle investor nerves in Asia. With 10 per cent of each firm now on offer, Japan hopes to parlay strong retail interest into future sales, eyeing US$33 billion to fund reconstruction after 2011's earthquake and …
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