Japan Post IPO planned for 2015; govt to raise up to $87 bln-Nikkei

TOKYO Thu Oct 25, 2012 7:17pm EDT

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TOKYO Oct 26 (Reuters) - Japan Post Holdings Co has drafted a plan to go public in late 2015 and the government expects to raise up to 7 trillion yen ($87 billion) from the sale of two-thirds of its shares to finance reconstruction from the March 2011 disaster, the Nikkei newspaper reported.

Japan Post shares are to be unloaded in stages, the Nikkei said, adding that the question of selling shares in Japan Post Bank and Japan Post Insurance Co -- the group's profit earners -- has been shelved for now.

Japan Post has net assets of roughly 11 trillion yen.

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