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MOF: won't sell Japan Tobacco shares before end-Dec
November 16, 2012 / 7:50 AM / 5 years ago

MOF: won't sell Japan Tobacco shares before end-Dec

TOKYO, Nov 16 (Reuters) - Japan’s Ministry of Finance said on Friday it would not sell shares in Japan Tobacco before the end of December.

The ministry has been preparing to raise funds towards rebuilding areas hit by last year’s earthquake and tsunami by cutting the government’s stake in Japan Tobacco, the world’s third-largest cigarette company.

The ministry, which now holds 50 percent of Japan Tobacco shares, selected JPMorgan Chase & Co, Daiwa Securities , Goldman Sachs and Mizuho Securities in June as underwriters for the offering.

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