Japan Post Bank prices its stock offering at 1,131 yen apiece (updated)

Japan Post Holdings

13/03/2023 08:19

(Adds deal value, Monday closing price)
       TOKYO, March 13 (Reuters) - Japan Post Bank  7182.T  has
priced its secondary share offering at 1,131 yen ($8.41) apiece
in a deal worth 1.23 trillion yen ($9.14 billion), it said in a
regulatory filing on Monday.
    Parent firm Japan Post Holdings Co  6178.T  plans to sell
975.4 million shares of the banking unit, with an overallotment
of an additional 113.6 million shares in the domestic market.
    The sale, the first since its 2015 listing, will reduce the
parent's stake in Japan Post Bank to 60% from the current 89% to
meet new rules requiring companies on the Tokyo bourse's prime
section to keep a tradable share ratio of 35% or more.
    Japan Post Bank shares closed at 1,155 yen on the Tokyo
Stock Exchange on Monday.
    ($1 = 134.6200 yen)

 (Reporting by Makiko Yamazaki; editing by Muralikumar
Anantharaman and Jason Neely)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))