Japan Post Bank to conduct secondary share offering of up to $4.22 billion
FILE PHOTO: Japan Post Bank Co's logo is seen on its ATM machine in Tokyo, Japan, August 12, 2016. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO : Japan Post Holdings plans to sell its shares in Japan Post Bank in a secondary share sale worth as much as 630 billion yen ($4.22 billion), a regulatory filing showed on Thursday.
The sale, first reported by Reuters on Wednesday, comes as corporate governance reforms are accelerating in Japan with "parent-child" listings, where companies have a listed subsidiary, being scrutinised and companies under pressure to increase free-float share ratios.
($1 = 149.3400 yen)
Source: Reuters
