Japan govt to sell Japan Post shares at 820.6 yen each - filing
25/10/2021 08:36
TOKYO, Oct 25 (Reuters) - The Japanese government will sell
shares in Japan Post Holdings 6178.T for 820.6 yen each under
a plan to divest up to 1.03 billion shares to secure
reconstruction funding for areas hit by the 2011 earthquake and
tsunami, a regulatory filing showed on Monday.
The sale accounts for a stake of around 27%, lowering the
government's ownership to one-third - the minimum allowed by
law. It is the third such sale of shares in Japan Post Holdings.
The government has previously raised 3.05 trillion yen
($26.88 billion) from selling shares in the formerly state-owned
Japan Post Holdings and its affiliates. That accounted for about
10% of Japan's reconstruction budget totalling some 32 trillion
yen over a decade.
In 2015, Japan Post Holdings, Japan Post Insurance and Japan
Post Bank listed in what was the country's biggest privatisation
in about three decades.
($1 = 113.4500 yen)
(Reporting by Tetsushi Kajimoto; Editing by Kirsten Donovan)
((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))