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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