Ashikaga Holdings Co., the parent firm of Ashikaga Bank, has applied to go public by listing its shares on the Tokyo Stock Exchange, according to The Nikkei.
Ashikaga Holdings' board has begun preliminary talks with the TSE, its shareholders and the Financial Services Agency.
Ashikaga Bank collapsed in 2003 and was delisted soon afterward. The regional bank was temporarily placed under state control before being sold in 2008 to a group of investors led by Next Capital Partners and Nomura Financial Partners.
Ashikaga Holdings, which was founded in 2008, initially planned to go public in the fiscal year ended in March 2011, but it has delayed the listing due to fallout from the global financial crisis that erupted in autumn 2008 and the Great East Japan Earthquake of March 2011.
July 31, 2013
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