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
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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.
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