Japan Post firms sending 10 teams on overseas roadshow to drum up interest in IPO

A man walks past an advertising poster in the headquarters of Japan Post in Tokyo, in this June 26, 2015 

PHOTO: REUTERS

SEP 17, 201512:18 PM

[TOKYO] Japan Post Holdings Co and its two financial units have begun dispatching 10 teams on an overseas road show to drum up interest among institutional investors for their US$11.6 billion initial public offering, sources with knowledge of the matter said.

Japan Post Holdings will eventually send four teams, including one headed by President Taizo Nishimuro, by mid-October to meet institutional investors starting in Hong Kong, elsewhere in Asia, Europe and the United States, said the sources, who were not authorised to discuss the matter publicly.

Japan Post Bank Co and Japan Post Insurance Co will send three teams each, including those headed by their respective presidents, the sources said.

The triple IPOs scheduled in November are mainly aimed at domestic retail investors, with only a fifth allocated for overseas institutional investors.

REUTERS