January 16, 2017 / 5:11 AM / 3 years ago

CORRECTED-Japan govt to name underwriters for further Japan Post share sale -source

(Corrects amount of 2015 share sales in 4th paragraph)

TOKYO, Jan 16 (Reuters) - The Japanese government will soon select underwriters for a further sale of shares in Japan Post Holdings Co, a government official said on Monday, laying the groundwork to add to the country’s biggest privatisation in 30 years.

A government panel will meet on Monday to decide criteria for selecting lead underwriters for further sales of Japan Post, said the official with direct knowledge of the matter. It was not immediately clear when the underwriters would be chosen.

A Japan Post spokesman said he was unaware of any such plans.

The government sold about 1.4 trillion yen ($12.3 billion)worth of shares in Japan Post and its Japan Post Bank Co and Japan Post Insurance Co units in a triple mega-IPO in November 2015.

The parent company’s stock was down 3.7 percent in afternoon trade after the Nikkei reported the government would sell a further 1.4 trillion yen - the ceiling for expected revenues from such a sale in the draft government budget for the fiscal year starting in April. ($1 = 114.1000 yen) (Reporting by Takaya Yamaguchi; Additional reporting by Taiga Uranaka; Writing by William Mallard; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below