Joint global underwriters Nikko Citi, Daiwa Securities SMBC and Goldman Sachs underwrote the placement of 170 million government-owned shares to domestic and foreign investors on Monday in the biggest follow-on share sale year-to-date.
For Chuo Mitsui, one of the leading trust banks in Japan, the sale marks one more step towards managerial independence. The shares, representing 14.6% of its total outstanding common shares, had been converted from the 47.8 million convertible preference shares held by the Resolution and Collection Corporation, a subsidiary of the...
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