TOKYO Feb 25 Japan's Ministry of Finance plans
to sell 333 million shares in Japan Tobacco Inc, the
world's third-largest tobacco company, raising about $10.4
Japan Tobacco would buy back as much as 250 billion yen
worth of its own shares, the regulatory filing showed on Monday.
Japan's Ministry of Finance, which owns just over 50 percent
of the tobacco company, has been planning to sell up to
one-third of its holdings to raise money to help fund
reconstruction of areas devastated by the 2011 earthquake and
Japan's parliament in 2011 passed a set of bills including
tax hikes and government share sales in state-owned companies to
help finance the roughly $270 billion it expects to spend to
rebuild the northeast coast.
Shares in Japan Tobacco closed on Monday at 2,901 yen, up 1.4
percent on the day. At that price, the share sale would be
valued at about 967 billion yen.
($1 = 93.2200 Japanese yen)
(Reporting by Shinichi Saoshiro; Writing by Junko Fujita;
Editing by Edwina Gibbs)