JR Kyushu IPO banks on non-railway growth to attract buyers

摘要

The ¥392bn (US$3.9bn) listing of Japanese state-owned rail operator JR Kyushu, the second largest IPO in Asia this year, is banking on the growth of its non-railway operations to lure investors. The listing of JR Kyushu next month could easily seem like a simple transport play, but with this particular privatisation that would only be half the story.