Photographer: The Asahi Shimbun via Getty Images

World’s Biggest Rail IPO Since 1993 Said to Seek $5 Billion

  • Japan state agency plans to sell all shares in Kyushu Railway
  • Kyushu Railway plans to list on Tokyo, Fukuoka stock exchanges

Japan’s government plans to privatize Kyushu Railway Co. through a share sale that may fetch about 500 billion yen ($5 billion), according to people with direct knowledge of the matter, in what would be the rail industry’s biggest initial public offering in more than two decades.

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