(Bloomberg) – The Japanese government will sell 843 billion yen ($7.4 billion) of shares in Japan Post Holdings Co. as part of the ongoing privatization of the postal and financial services giant six years after it was floated in stock Exchange.

The price for the secondary sale of Japan Post shares was set at 820.6 yen apiece, according to a statement, marking a 2% discount from Monday’s closing price of 837.4 yen.

The government is selling about 1 billion shares to Japanese and foreign investors, and the company also plans to buy back shares worth up to 100 billion yen, or 3.5% of total outstanding.

Japan is seeking to raise about 4 trillion yen through a series of sales to finance the reconstruction of areas devastated by the earthquake and tsunami of March 2011. With this offer, the third since Japan’s IPO Post in 2015, the state will reduce its stake to 33% – the minimum it is required to hold by law – from 61%.

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