TOKYO – Japanese government officials are set to meet bankers today to start work on a third round of share sales in Japan Post Holdings Co, involving a stake of about ¥950 billion (RM35.6 billion), reported Bloomberg News.
Citing people with knowledge of the matter, the news outlet said the government aims to complete the sale by year-end.
The offering aims to prune the government’s stake to a third, the minimum required by law, from about 68% now, said Bloomberg in its report yesterday, with Japan Post considering buying back some of its shares from the government.
Japan Post did not immediately respond to a request for comment.
Late last month, the firm said it has completed the partial sale of its money-losing Australian logistics arm. –Reuters pic, September 29, 2021
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