Citigroup could list its Japanese unit next month

Citigroup could list its Japanese unit next month

Online magazine Facta has claimed in a news report that the Citigroup group is considering listing their Japan banking unit on the Tokyo Stock Exchange as early as July.

The article said that the company could list their retail and corporate banking unit Citibank Japan on the Tokyo exchange through an initial public offering.

Citibank has declined to comment on this latest rumor in the market related to their expansion in the Asian market.

Nikkei business daily too had claimed earlier this year that the company was planning to list depository receipts on the Tokyo exchange.

The only statement coming out of Citigroup was: “Citigroup is committed to Japan for the long term and has been reviewing its business strategies which could include listing Citigroup on the TSE.”

They had earlier this year announced their plans to set up a Japanese holding company and double its retail branch network.