Japan plans $87 billion postal privatization:Nikkei

(Reuters) – Japan’s biggest savings institution, Japan Post Holdings Co, has drafted a privatization plan enabling the government to raise up to 7 trillion yen ($87 billion) to fund reconstruction from last year’s quake and nuclear disaster, the Nikkei newspaper said.

Japan Post Minister Shimoji:

• Japan will start preparing Japan Post IPO, wants to list within three years.
• Says shares will be sold in multiple offerings.