Japan Post TSE IPO

Overview:

• The overall IPO of Japan Post saw separate IPOs of Japan Post Holdings, Japan Post Bank and Japan Post Insurance on the Tokyo Stock Exchange (TSE).
• Each IPO included international offerings to institutional investors in reliance on Rule 144A and Regulation S.
• The combined ¥1.4 trillion (approximately US$11.6 billion) offering was the largest IPO in 2015.
• JP Holdings is a holding company principally engaged in offering mail and parcel, banking and life insurance services through its principal operating subsidiaries: Japan Post, JP Bank and JP Insurance.
• JP Bank is one of the largest financial institutions in Japan, offering financial services primarily for retail customers in Japan through an extensive nationwide network of post offices operated or contracted by JP Post.
• JP Insurance is the largest life insurance company in Japan, offering a range of life insurance products, with a focus on individual life insurance, such as endowment insurance and whole life insurance and annuity products.
• Prior to the offering, JP Holdings was wholly owned by the Japanese government. The government will use ¥1.4 trillion of the proceeds raised by these deals for the recovery of East Japan from the Great Earthquake of 2011. 
• The joint lead managers in the deal are Goldman Sachs, JPMorgan Securities, Morgan Stanley and Nomura International.

 Adam Majeed - Asia Editor