Local News

JR Kyushu to be Privatized in Late-October 2016

Plans are afoot to launch an IPO (initial public offering) for the Kyushu Railway Co. The share sale is estimated to raise ¥500 billion (approx US$4.9bn). If completed, the IPO would be the largest this year, beating the earlier record set by Line Corp, which raised US$1.3bn. JR Kyushu currently employs around 9,000 people and posted a ¥433 billion loss last fiscal year, following a one-time cost of ¥479 billion for depreciation of railway assets. The listing is planned for Oct. 25. Source: Taipei Times, 9/15

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Image Source: Wikimedia Commons

Category
Travel & Tourism
Published: Sep 21, 2016 / Last Updated: Sep 21, 2016

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