In today’s briefing:
- Japan Post Holdings To Effectively “Re-IPO” Japan Post Bank (7182 JP)
- Japan Post Bank Possible Placement – Here We Go Again with the US$9bn Overhang
Japan Post Holdings To Effectively “Re-IPO” Japan Post Bank (7182 JP)
- Overnight a Reuters article suggested Japan Post Holdings (6178 JP) had started talks to sell a near 30%) stake in Japan Post Bank (7182 JP), the first sale since IPO.
- A sale is designed with two aims: 1) the TSE requires a 35% tradable share ratio, and 2) JPH is supposed to lower holdings in JPB to <50% by 2025.
- This event may include a buyback, and has moving parts, and flows on the back end, but fundamentally a sale would effectively constitute a “re-IPO” of the shares.
Japan Post Bank Possible Placement – Here We Go Again with the US$9bn Overhang
- Japan Post Holdings (6178 JP) is looking to trim its stake in Japan Post Bank (7182 JP) by a third, as per Reuters.
- The deal would be worth around US$9bn and could come as soon as next month.
- In this note, we talk about the news and take an early look at the possible selldown.
💡 Before it’s here, it’s on Smartkarma
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