Japan Post companies net $11.9B in year's biggest IPO

TOKYO (AP) -- Shares of Japan Post jumped nearly 17 percent Wednesday in the first day of trading after the company and its banking and insurance units raised a combined 1.44 trillion yen ($11.9 billion) in the world's biggest initial public offering this year. The long awaited sale of shares in the state-owned company is the biggest since Chinese e-commerce giant Alibaba Group Holdings raised $25 billion in its IPO in September 2014. The Japan Post sale is meant to tease out some of the more th...