Osaka, Japan’s third-biggest metropolis, plans to sell the city’s 81-year-old subway operator in an initial public offering to lure private investment after ceding ground to Tokyo.
Osaka plans to privatize the operations, which could be valued at more than 600 billion yen ($5.9 billion), in the next few years as part of efforts to become a global metropolis, prefectural Governor Ichiro Matsui said in an April 8 interview. It may also weigh a sale to private investors, he said.
