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Japan government launches $12 billion follow-up sale of Japan Post Holdings shares

Reuters  |  TOKYO 

By Taiga Uranaka and Chris GallagherTOKYO (Reuters) - The Japanese government said it will sell additional shares in Japan Post Holdings Co Ltd worth around $12 billion, but the offering is expected to struggle to attract healthy demand from institutional investors due to lack of a strong growth story.Japan Post, with a network of 24,000 post offices and workforce of 400,000 people, has been hurt by a constant decline in mail delivery volume. Its two financial units Japan Post Bank Co Ltd and Japan Post Insurance Co Ltd have been hurt by the nation's ultra-low interest rate environment.The ...

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First Published: Mon, September 11 2017. 14:14 IST