TOKYO, Oct 1 (Reuters) - The Japanese government hasselected Nomura Securities and JP Morgan among the 11underwriters for a planned initial public offering ofstate-owned Japan Post
Mitsubishi UFJ Morgan Stanley, Daiwa, SMBC Nikko, Mizuho,Goldman Sachs, Citigroup Global Markets Japan, UBS, Tokai Tokyoand Okasan were also chosen to underwrite the offering, which isscheduled for next year and is expected to raise nearly $10billion for the government.
Merrill Lynch and Barclays, which had been shortlisted forthe IPO, were not included among those selected.
Japan Post is the country's largest savings institution,with about 176 trillion yen ($1.60 trillion) in customerdeposits, as well as a provider of postal and insuranceservices.
The IPO will be the first leg of the government's plan tosell up to two-thirds of Japan Post's shares. Bankers have saidthe government eventually hopes to raise 2 trillion to 4trillion yen from the sale. Part of the proceeds will fundreconstruction of areas devastated by the 2011 earthquake andtsunami. (1 US dollar = 109.7600 Japanese yen) (Reporting by Ritsuko Ando; Editing by Edmund Klamann)
Barclays (BARC)