Japan Post shares make big market debut
Shares of Japan Post and its banking
and insurance units surged on their stock market debut in Tokyo after
the triple initial public offering (IPO) raised $12bn (£7.7bn).
The IPO was the biggest in the world this year and the largest since Alibaba's Record $25 Billion Deal in 2014.
Shares in the parent company Japan Post Holdings closed up 20% on Wednesday.
Meanwhile, shares of Japan Post Bank closed up 15% while Japan Post Insurance soared 56%.
The landmark debut marks the Japanese government's largest asset sale in nearly three decades.
The listing is part of Prime Minister Shinzo Abe's plans to boost the flagging economy by encouraging consumers to invest in the stock market
Japan Post Holdings opened at 1,631 yen per share, 16.5% above the IPO price of 1,400 yen. The banking unit started at 1,680 yen, up almost 16% from its IPO price, while the insurance unit was 33% higher.
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