When a company with a small public float sells stock, it should be reason to cheer. Not so with government-owned Japan Post Holdings Co., the country's largest deposit-holder and insurer, whose shares are set to flood an already disgruntled market.
The company, made up of Japan's post office plus banking and insurance units, plans to sell 1 trillion to 1.4 trillion yen ($9.1 billion to $12.8 billion) in new shares to local and overseas investors by the end of September. Unless it's delayed by heightened tensions over North Korea, this would be one of the biggest transactions this year for a company that already held the crown for the largest global offering of 2015.
