Government Shortlists Banks for Japan Tobacco Stake Sale

http://blogs.wsj.com/deals/2012/06/05/government-shortlists-banks-for-japan-tobacco-stake-sale/

Reuters

Japan’s finance ministry said Tuesday that 10 banks including Nomura Securities Co. and JPMorgan Securities Japan Co. have been short listed to underwrite the government’s planned sale of its stake in Japan Tobacco Inc.

The Japanese government plans to lower its 50% stake in Japan Tobacco, known as JT, to one third, selling about 16.6% of the firm’s outstanding shares to raise funds for reconstruction after last year’s earthquake and tsunami.

The sale could generate around 705 billion yen, based on JT’s closing share price of Y424,500 on Tuesday.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s