Japan Post planning measures to boost share prices after IPOs

[TOKYO] Japan Post Holdings is planning measures to boost the share prices of it and its financial units after their planned initial public offerings, its president said on Friday.

Taizo Nishimuro said his company wanted to make sure their IPOs would "not repeat what happened with NTT" three decades ago, when investors snapped up shares of the former telephone monopoly and then suffered after the stock plummeted. "We will carry out measures that not only support share prices but boost them after the IPO," Nishimuro, president of the state-owned mail and financial giant, said at a regular news conference.

The government plans to raise up to 1.39 trillion yen (S$16.4 billion) through the IPOs of Japan Post Holdings, Japan Post Bank and Japan Post Insurance. The three are set to list on Nov 4.

REUTERS