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Japan Tobacco shares to be sold at 2 percent discount-filing
March 11, 2013 / 7:36 AM / 5 years ago

Japan Tobacco shares to be sold at 2 percent discount-filing

TOKYO, March 11 (Reuters) - Japan will sell shares of Japan Tobacco at 2,949 yen per stock, a 2.02 percent discount from Monday’s close, a government filing showed on Monday.

Japan’s Ministry of Finance, which owned just over 50 percent of Japan Tobacco, will sell a total of 333 million shares of the world’s No.3 tobacco company to fund the reconstruction of areas devastated by a 2011 earthquake and tsunami.

Japan Tobacco bought 80 million of the shares from the ministry to reduce the impact of the sale to its stock price.

Reporting by Junko Fujita; Editing by Shinichi Saoshiro

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