Triple bullseye for Japan Post IPOs

The triple listing of Japan Post Holdings and its banking and insurance units offer a good alternative investment for retail investors in a low interest rate environment.

The initial public offerings of Japan Post Holdings, Japan Post Bank, and Japan Post Insurance have each priced at the top of their respective indicative ranges on expectations that yield-starved retail investors will subscribe heavily to the deals in a scramble for defensive assets.

In a coup that promises to raise the government almost $12 billion and boost trading on the Tokyo stock market, Japan's Ministry of Finance said on Monday that it will sell an 11% stake in Japan Post Holdings at 1,400 per share.

The final price represents a 3.7% premium to the indicative price of 1,350 per share announced last month, showing...

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