Japanese Government sells stake in Chuo Mitsui

July 2008 | IPO News Alert

The Japanese Government has sold a stake in financial conglomerate Chuo Mitsui for US$973mn, in a bid to help the mid-sized bank repay public money injected in a state bailout in 1999. In a sale underwritten by Nikko Citi, Daiwa Securities SMBC and Goldman Sachs, 170mn government-owned shares were sold to domestic and foreign investors, at a 2.1% discount to the market price.

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