Japan Post shares soar 16.5% above IPO price in trading debut

An $11.5 billion share sale — the biggest so far this year, made sure that Japan Post shares soared more than 16 percent above their initial public offering price in a long-awaited Tokyo trading debut Wednesday.

The vast firm’s holding company jumped to 1,631 yen ($13.50), well up from a 1,400 yen IPO price, while its banking unit’s stock jumped to 1,680 yen, against their 1,450 yen initial sale price.

(with inputs from AFP)

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