SWFI First Read, November 4, 2015

Japan Post, 3rd Biggest IPO in Japanese History

Japan Post became the third largest initial public offering in Japanese history. The parent entity Japan Post Holdings Co., as well as its two units, Japan Post Bank and Japan Post Insurance, listed its shares on the Tokyo Stock Exchange (TSE). After the IPO, investors control 11% of Japan Post Holdings Co. In addition, investors control 11% of Japan Post Bank and Japan Post Insurance. The Japanese government maintains ownership of 89% in the parent and the other two units. The IPO was a decade in the making, opening up the 144-year-old entity to outside investors.

JP Morgan Forms New Infrastructure Unit

JP Morgan has formed a new global infrastructure team focused on infrastructure finance. The U.S. banking giant named Daniel Zelikow as co-head of the new Infrastructure Finance and Advisory (IFA) division. In 2010, JP Morgan re-hired Daniel Zelikow when he left the Inter-American Development Bank in Washington DC. Zelikow joined JP Morgan for the first time in 1999. The other co-head is Huw Richards. This unit will advise clients on structured finance regarding global infrastructure projects and developments.

CapitaLand Leaves Asia Square Tower Talks

Singapore-based CapitaLand withdrew from negotiations to acquire Asia Square Tower 1 in Singapore. CapitaLand disagreed with the terms of the deal. The real estate developer was working with Norges Bank Investment Management (NBIM) on the deal. The seller of the 43-storey building is BlackRock.

PGGM and USS Victorious in Globalvia Infraestructuras Acquisition

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