Shares in Japan Post, bank and insurance units soar after $11.9 billion IPO, 2015's biggest

November 4, 2015 2:05 AM

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TOKYO – Shares of Japan Post jumped nearly 17 percent in the first day of trading after the company and its banking and insurance units raised a combined 1.44 trillion yen ($11.9 billion) in the world's biggest initial public offering of stock this year.

The long awaited sale of stock in the state-owned company is the biggest since Chinese e-commerce giant Alibaba Group Holdings raised $25 billion in its IPO in September 2014.

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