TOKYO: Banks under Mitsubishi UFJ Financial Group Inc and Mizuho Financial Group Inc sold a total 160 billion yen ($1.3 billion) of shares to individual investors in the Japan Post triple IPO, sources with knowledge of the matter said.
Last week, the government raised 1.4 trillion yen through the initial public offerings of Japan Post Holdings Co, Japan Post Insurance Co and Japan Post Bank Co . Around 80 percent of the three IPOs was reserved for domestic investors, with almost all of those tranches sold to individual investors.
The government hopes the listing of the national postal and savings giant will encourage households to shift more of their low-yielding bank deposits into equities to boost the Tokyo stock market.
