Japan’s government raised about 1.3 trillion yen ($11.6 billion) selling a stake in Japan Post Holdings Co.
The shares of the company providing postal and financial services were sold to domestic and foreign investors for 1,322 yen per share, 2% lower than the closing price on Monday. Earlier, the Ministry of Finance mentioned the 2% to 4% discount range.
This is compared with its IPO two years ago, when Japan Post raised 1.4 trillion yen. In 2017, the company’s privatization was continued with an aim to fund the reconstruction of areas destroyed by tsunami in 2011.
It was the largest equity offering of a single company in Japan since 1999.
Shares of Japan Post fell 1% to 1,349 yen at the close of trading on Monday. Market capitalization of the company declined by 3.6% since the 2015 IPO.
