16 Nov 2009
Nov. 16 (Bloomberg) -- Mitsubishi UFJ Financial Group Inc. hired Nomura Holdings Inc., JPMorgan Chase & Co. and Morgan Stanley to manage a share sale of about 1 trillion yen ($11 billion), five people familiar with the matter said.The sale, Japan's biggest secondary offering, will be announced Nov. 18 when Mitsubishi UFJ reports first-half earnings, the people said today. The company plans to sell about 2.5 billion common shares, one of the people said. Its Mitsubishi UFJ Securities Co. unit will help arrange the sale.
Mitsubishi UFJ, Japan's largest lender by market value, and rivals Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. trail the world's largest banks in capital strength, even after selling $20 billion in common stock in the past year. Mizuho and Sumitomo Mitsui can't sell shares in public offerings for at least another month, providing a chance for Mitsubishi UFJ to tap investors for the second time in less than a year.
Tokyo-based Mitsubishi UFJ invested $9 billion in Morgan Stanley last year.
Takashi Takeuchi, a spokesman for Mitsubishi UFJ, declined to comment on whether the company is planning a share sale or has hired investment bankers.
