Skip to content
Subscriber Only

Japan Post Bank, Insurance Units Priced at Top of Range for IPO

  • Government to raise 743 billion yen from sales of two units
  • Signals strong demand ahead of triple listing next month
Updated on

Japan’s government sold shares in Japan Post Holdings Co.’s banking and insurance divisions at the top end of marketed price ranges, signaling strong investor demand for the nation’s biggest privatization since the 1980s.

Japan Post Bank Co. shares were offered at 1,450 yen apiece and Japan Post Insurance Co. was priced at 2,200 yen, a Ministry of Finance filing showed Monday. The government will raise 743 billion yen ($6.2 billion) from the sales of the units, according to Bloomberg calculations. The price of shares in the holding company, the biggest part of the three-pronged initial public offering, will be set on Oct. 26.