Shares in Japan Post Holdings Co.'s banking and insurance units were priced at the top of marketed ranges as part of a three-pronged initial public offering, signaling strong demand for the nation's biggest privatization deal since the 1980s.
Japan Post Bank Co. shares were offered at ¥1,450 apiece and Japan Post Insurance Co. was priced at ¥2,200, a Finance Ministry filing showed Monday. The government will raise ¥743 billion ($6.2 billion) from the sales of the units, according to Bloomberg calculations. The price for the holding company will be decided next Monday.
Investors shrugged off a two-month stock-market slump to make orders that exceeded the amount of stock on offer after only two days, people with knowledge of the matter said last week. Prime Minister Shinzo Abe's government is seeking to raise as much as ¥1.4 trillion in the world's largest IPO this year.