IPO of Kazakhstan Temir Zholy may take place in May – mediaRailway operator Kazakhstan Temir Zoly (KTZ) may hold an IPO in May and raise about $1 billion, Bloomberg reports, citing sources.According to the publication, investors could be offered up to 25% of KTZ shares. The company is considering a dual listing on the Kazakhstan and London stock exchanges.Citigroup Inc. (SPB: C), JPMorgan Chase & Co. (SPB: JPM) and Societe Generale SA are participating in the IPO preparation.The owner of KTZ, the Sovereign Wealth Fund Samruk-Kazyna, has not yet disclosed details of the future offering. However, the valuation of 100% of KTZ shares at $4 billion "does not correspond to either the company's fundamental parameters or the preliminary assessments of international independent consultants," the fund's press service told Interfax-Kazakhstan.Preparation for the placement is underway. "KTZ, like any other asset ahead of an IPO, requires pre-sale preparation to enhance its investment attractiveness," the commentary states.The exact timing and structure of the IPO (including the size of the share offering and the listing venues) will be determined as pre-sale preparation is completed, taking into account the recommendations of independent consultants from investment banks, and subject to favorable market conditions, the fund stated.It was previously planned that KTZ would launch its IPO by the end of 2025; these plans were subsequently postponed to 2026. Initially, Samruk-Kazyna considered selling 10-25% of KTZ shares; later, the fund's chairman, Nurlan Zhakupov, stated that the fund intends to sell up to 20% of the shares.Kazakhstan Temir Zholy is a transport and logistics company controlled by the state. The company manages railway, sea port, and airport infrastructure, as well as transport and logistics centers.Sovereign Wealth Fund Samruk-Kazyna manages the largest strategic companies in Kazakhstan, including Air Astana, Kazakhtelecom, Kazatomprom, KazMunayGas, Kazpost, Kazakhstan Railways, KEGOC, and others. (ICE ALMATY)

Fonte notizia: INTERFAX