Japan Post Holdings Co. and its banking and insurance units will begin trading on the Tokyo Stock Exchange on Nov. 4, the bourse said Thursday, in what will be the largest initial public offering in the country in nearly 30 years.
Japan Post Holdings, Japan Post Bank Co. and Japan Post Insurance Co. jointly are expected to be valued at ¥12.61 trillion, second only to the ¥24.96 trillion value of Nippon Telegraph and Telephone Corp. at its debut in 1987.
The government hopes the IPO, which will represent the partial privatization of the postal and financial giant, will help encourage individuals to shift more of their savings to stocks, to boost the market amid a downturn related to concerns over the global economic slowdown.