The listings of Japan Post Holdings Co and its huge bank and insurance units will seek to raise a combined 1.4 trillion yen ($11.7 billion), with each company offering about 10 percent of their outstanding shares, a source with direct knowledge of the deal said. The triple IPOs together represent the country's biggest privatisation since the 2.4 trillion yen ($20 billion) listing of Nippon Telegraph and Telephone Corp (NTT) in 1987.The source said Japan Post Holdings will set an indicative price of 1,350 yen per share. Japan Post Bank Co will set a one of 1,400 yen a share, while Japan Post Insurance Co's indicative price will be 2,150 yen, the source told Reuters, declining to be identified ahead of the regulatory filing. The precise number of shares to be offered were not immediately available but prospectus details are widely expected to be filed on Thursday.
Nippon Telegraph and Telephone Corporation (NTT) is a provider of fixed and mobile voice related services, Internet Protocol (IP)/ packet communications services, telecommunications equipment, system integration and other telecommunications-related services in Japan. Shares of NTT traded higher by 0.44% or $0.17/share to $38.76. In the past year, the shares have traded as low as $25.07 and as high as $40.30. On average, 283989 shares of NTT exchange hands on a given day and today's volume is recorded at 303764.
Post Holdings, Inc. is a consumer packaged goods holding company. Shares of POST fell by 3.08% or $-2.05/share to $64.54. In the past year, the shares have traded as low as $30.94 and as high as $67.40. On average, 1094060 shares of POST exchange hands on a given day and today's volume is recorded at 811335.