Japan Post, units get TSE's nod to go public in November
1.4t-yen sale will be biggest in Japan since NTT IPO in 1998
Tokyo
THE stage is set for Japan's biggest initial public offering (IPO) this century after Japan Post Holdings Co obtained approval from the Tokyo Stock Exchange to go public in November along with its banking and insurance units.
The government is seeking to raise about 1.4 trillion yen (S$16.4 billion) from the sales, according to calculations based on a filing posted to the Ministry of Finance on Thursday. Based on indicative prices in the document, the three companies will have a combined market value of 13.7 trillion yen when they are listed on Nov 4, more than Mitsubishi UFJ Financial Group Inc, the country's largest bank.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM wins reversal of US$1.6 billion poaching award to BMC
Binance founder Zhao Changpeng gets 4 months in prison
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst
Amazon’s Twitch starts rival to TikTok in short-form video
Pinterest revenue surges on popularity of shopping push
Tesla axes most of Supercharger team in blow to other automakers