3rd Sale of Japan Post Shares to Give Govt 836.7 B. Yen
Newsfrom JapanEconomy Politics
Tokyo, Oct. 25 (Jiji Press)--The offering price has been set at 820.60 yen for the third tranche of Japan Post Holdings Co. <6178> shares to be unloaded by the Japanese government, the company said Monday.
A total of 1,027,477,400 shares will be sold for 843,147,954,440 yen, according to the company. Excluding fees, the government is expected to gain about 836.7 billion yen.
The government will use all the proceeds for reconstruction in areas affected by the March 2011 earthquake and tsunami.
The offering price in the third sale is far lower than 1,400 yen in the 2015 sale and 1,322 yen in the 2017 sale.
Applications to purchase the government-held shares will be accepted on Tuesday and Wednesday, and the shares will be transferred on Friday.
[Copyright The Jiji Press, Ltd.]