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© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Japan Post companies net Y1.44 tril in world's biggest IPO this year
By Elaine Kurtenbach TOKYO©2024 GPlusMedia Inc.
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proxy
Japanese taxpayers should be outraged! The IPO was obviously undervalued. Taxpayers did not get anywhere near full value for their assets. Who profited from from this?
Disillusioned
And, they want to privatise the PO? Are they insane?
PhillyStreetzPAC
hey "proxy" and "Disillusioned", reading is so fundamental......
Only 11% of the government’s equity in the three companies was sold.
shonanbb
Philly: Perhaps they were looking at the pictures.
garfield1275
Going public is the way to invite more funds for future growth.
Better late than never.
gogogo
ie. The biggest slush fund in JP.
Duck70
It HAD to be undervalued because privitisations are not meant to maximise the benefit to taxpayers. It was meant to get some money in, but also " incentivise" voters. The government cannot afford for the issue to flop for political reasons, hence a fair price would come at an unacceptable political risk.
I note that there were multiple underwriters so they were making a near risk free bet.
It's very true that the taxpayer has been short changed, but I somehow don't see this being a big headline in news.
fxgai
The tax payers who opted individually to subscribe to this IPO will be happy.
Those who didn't subscribe may have had no interest (like myself) but should benefit in future from improved services that come about through privatization.
I considered some JP insurance product in the past, but it was a total scam compared to other similar offerings from private competitors.
100 CPM
Gaigin Delima: The branch in Bunkyo-ku lost my packages 3 times, with no luck finding them, and they called my friends wife, and told her that her husband had ordered a box of condoms from Amazon, which almost got him divorced. --so much for privacy.
ThonTaddeo
The same people who have profited at the expense of taxpayers, savers, and workers ever since the LDP got back into power in 2012 and began looting the country.
toshiko
Just tell your stockbroker to buy IPO share, Does not sound it will be down quite a while
gogogo
@ThonTaddeo: Yep totally correct, it's all wash and lines the pockets of the LDP via the tsunami fund. You are totally correct when you say looting.
fxgai
Saw some segments on TV about the first day of trading. One individual investor had got his hands on 100 shares, and sold off about half of this for a 200,000 yen profit, so far. With 80% of the shares set aside for domestic investors there must have been quite a few people able to "invest" for similarly quick short term profits.
Other individual investors interviewed were sure that the shares will go down in the end.