As investors prepare for the Wednesday debut of Japan Post group, the nation’s biggest initial public offering this century at $12 billion, they would do well not to rush to sell on the first day.
A look at the nation’s 10 biggest-ever IPOs shows the benefits of a patient approach. The top IPOs rose an average 12 percent on their first day of trading, driven by a 58 percent jump in a state-owned railway operator when it debuted in 1993, with only one company posting a loss. The mega deals kept surging after the first day to jump an average 44 percent in their first year of trading, with a state-backed wireless carrier tripling in its first 12 months starting in October 1998, data compiled by Bloomberg show.
