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Japanese government endorses $3,8 bln IPO of major railway operator

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Japanese government endorses $3,8 bln IPO of major railway operator

The government of Japan announced that it would make an initial public offering of a railway operator, Kyushu Railway, in a volume of 392 bln yens ($3,8 bln), Bloomberg reports.

Initial public offering, which is scheduled for the 25th of October at Tokyo stock exchange, will become the world’s second largest this year.

Kyushu Railway operates railways on Kyushu island, the third largest one in Japan. The company’s staff includes over 9,000 employees. Kyushu Railway was founded as a result of Japan Railways state corporation partition, which took place in the year 1987. By the way, three other railway operators established simultaneously with Kyushu Railway are already privatized.

The company’s net profit is expected to total 38,2 bln yens.

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