Kazakhstan’s main railway operator is going public.

It has been announced that Kazakhstan Temir Zholy (KTZ), the Kazakh railway operator, plans to hold an IPO at the end of this year to pay off its debts. This was announced by the company’s deputy chairman, Yerlan Koishibayev, during parliamentary hearings in the Kazakh Senate. No specific timeframe for the IPO had previously been announced.

It’s noteworthy that the announcement was made by one of the national company’s top managers, who, according to available information, is being considered as the future head of KTZ. He was, in fact, the first to publicly outline the goals of such a large-scale and long-term move, confidently taking responsibility for announcing plans whose details had not previously been disclosed.

This indicates that the IPO will be associated specifically with Erlan Koishibaev. Given current indications, it’s possible he will already be heading the company by the time the shares are listed, and the statements made and steps taken indirectly support this scenario.

Back in 2025, the state-owned energy fund Samruk-Kazyna announced its intention to sell up to 20% of KTZ shares in an IPO, as announced by the fund’s chairman, Nurlan Zhakupov . Now, a year later, it’s clear that this move has received support at the highest level. This demonstrates not only the consistency in implementing previously announced plans but also significant political backing for the initiative.

To a certain extent, this also strengthens Zhakupov’s own position, emphasizing his image as a developing and decisive manager capable of promoting large-scale structural decisions.

For Russian Railways, the KTZ IPO appears to be a positive development in the long term . Attracting investment will allow for infrastructure modernization, increased capacity, and faster transit, which is also beneficial for Russia as a key player in Eurasian transport corridors.

At the same time, large-scale changes coming to Kazakhstan’s railway industry, including an IPO and likely personnel changes, are leading Russian Railways’ management to begin strategically preparing for these transformations in its neighbors , assessing new opportunities for cooperation.

Источник: https://senate-review.com/component/k2/item/216521