Japan Post soars in Tokyo debut after $11.5-B IPO

TOKYO: Japan Post skyrocketed on its trading debut Wednesday after the biggest initial public offering this year, lifting hopes that privatizing what is effectively the world’s largest bank will boost Tokyo’s faltering growth blitz.

Shares in the vast company—along with its banking and insurance units—were listed on the Tokyo Stock Exchange following an $11.5 billion share sale, in the largest offering globally since Chinese e-commerce giant Alibaba’s record $25 billion IPO last year.