Kazakhstan Railway Operator Weighs $1 Billion IPO as Soon as May

Kazakhstan Temir Zholy, the Central Asian country’s sole railway operator, is considering an initial public offering as soon as May to raise about $1 billion as part of its broad expansion drive, according to people familiar with the matter.

The state-owned company is weighing a dual listing on the domestic stock exchange and abroad of as much as 25% of its equity, said the people, who asked not to be identified as the information is not public.