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Japan to privatise railway in biggest rail sector IPO since 1993
TOKYO plans to privatise the Kyushu Railway in an initial public offering expected to bring in JPY500 billion (US$5 billion), the biggest rail sector IPO since 1993, reports Bloomberg News.
State-owned Japan Railway Construction, Transport and Technology Agency, which owns the company plans to sell its entire stake.
The 1993 sale took place when the East Japan Railway raised $7.2 billion, according to Bloomberg data.
The JR Kyushu, which also operates bullet trains on Japan's third-largest island, is benefiting from record overseas visitors to Japan, spurring travel and demand for its hotels and restaurants.
State-owned Japan Railway Construction, Transport and Technology Agency, which owns the company plans to sell its entire stake.
The 1993 sale took place when the East Japan Railway raised $7.2 billion, according to Bloomberg data.
The JR Kyushu, which also operates bullet trains on Japan's third-largest island, is benefiting from record overseas visitors to Japan, spurring travel and demand for its hotels and restaurants.
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