IPOs of Japan Post, units more than five times subscribed

Tokyo

JAPAN'S postal and financial firms attracted solid bids of more than five times their planned initial share offerings, Japan's largest IPO in three decades, two sources said on Monday.

Japan Post Holdings, and its two financial subsidiaries, Japan Post Insurance and Japan Post Bank, will be listed on Wednesday, raising the government more than 1.4 trillion yen (S$11.6 billion).