Japan delivers $11.9bn float, the biggest IPO of 1215

Overnight: Sale of shares in state-owned company raises a combined $11.9bn in world's largest initial public offering this year. Shares of Japan Post surged nearly 26 percent in their trading debut after the company and its banking and insurance units raised a combined $11.9bn in the world's biggest initial public offering this year. The long-awaited sale of shares in the state-owned company was the biggest since Chinese e-commerce giant Alibaba Group Holdings raised $25bn in its IPO in September 2014. The Japan Post sale is meant to tease out some of the more than $14 trillion that Japanese have squirrelled away in savings accounts. Some IPO funds will help pay for rebuilding from the 2011 tsunami disaster. (source: aljazeera) (VIEW LINK)