TOKYO (Reuters) – 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, […]
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Japan Post Bank to conduct secondary share offering of up to $4.22 billion
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TOKYO (Reuters) – 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)
(Reporting by Mariko Katsumura; Editing by Kim Coghill)