September 11, 2017 / 6:55 AM / a year ago

Japan govt launches $12 bln follow-up sale of Japan Post Holdings shares

TOKYO, Sept 11 (Reuters) - The Japanese government will sell an additional stake in Japan Post Holdings Co Ltd worth around $12 billion, a regulatory filing showed on Monday, the first sale since the company’s mammoth 2015 listing.

The government will sell about 914 million shares in Japan Post Holdings, according to the filing with the Kanto Local Finance Bureau.

The offering would be worth around 1.3079 trillion yen ($12.1 billion) based on Monday’s closing share price of 1,321 yen and including options to sell additional shares in the event of strong demand.

The sale is to help fund reconstruction of areas in northern Japan hit by a catastrophic 2011 earthquake and tsunami.

The price will be determined between Sept. 25 and Sept. 27. ($1 = 108.3900 yen) (Reporting by Taiga Uranaka and Chris Gallagher)

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