Nomura Securities, Morgan Stanley and Nikko Citigroup have raised ¥282bn (€2.2bn) as bookrunners in a secondary offering of shares in Japan's Shinsei Bank after raising ¥250bn in a partial flotation last year.

An investor group led by Ripplewood Holdings, a US private equity firm, sold 464 million shares, representing a 34% stake in Shinsei Bank yesterday. The shares were placed at ¥608 each, a 2% discount to Monday's closing price.