Japanese said Monday it would sell off another chunk of the country’s massive postal service in a share sale that could raise up to 1.4 trillion yen.
Japanese said Monday it would sell off another chunk of the country’s massive postal service in a share sale that could raise up to 1.4 trillion yen.
Tokyo said it would sell up to 990 million shares in Japan Post, or about 22 percent of its outstanding shares, the finance ministry said in a statement.
The sale could raise 1.4 trillion yen based on Monday’s closing price of 1,321 yen. The sale price will be decided sometime between September 25 and 27, it added.
After years of delays, 1.43 trillion yen was raised in an initial public offering in late 2015 that included shares in Japan Post’s banking and insurance units.
