Kazakhstan, Astana, Feb. 10 / Trend T. Nurmagambetov /
The stocks of Kazakhstan Temir Zholy's transport subsidiaries will be sold through a people's IPO, Kazakhstan Temir Zholy VP Yermek Kizatov said at a meeting with TransContainer.
"Kazakhstan Temir Zholy will enter the market through subsidiaries," he said. "We have a law that the state structure of the railways cannot be privatized under any circumstances. Therefore, the companies, which that deal with freight and transportation, and
producing and repairing locomotives, are being created. They will be sold via the IPO."
The work is being done upon the Kazakh president's order.
Kazakh Prime Minister Karim Massimov wrote in his blog that the people's IPO is an opportunity for every Kazakh citizen to personally participate in and benefit from the economy.