Japan's SBI Shinsei aims to relist after July repayment of bank bailout
Finance
Move will mark end to rescue that took place quarter century ago
Parent company SBI Holdings, led by CEO Yoshitaka Kitao, is spearheading SBI Shinsei Bank's repayment plan. (Source photos by Nikkei)
Nikkei staff writers
TOKYO -- Japan's SBI Shinsei Bank will complete its repayment of roughly 230 billion yen ($1.6 billion) in bailout money on July 31, the company said on Wednesday, as it aims to relist on the Tokyo Stock Exchange this year.
The money will be repaid by the Japanese bank's parent group, SBI Holdings, which will buy preferred shares held by the Deposit Insurance Corporation of Japan and another government-backed body.
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