Judo master poised to pull off 416b yen IPO for once 'hopeless' railway

Tokyo

WHEN Kyushu Railway Co was formed almost thirty years ago, it was "hopeless" to think the company might one day go public, chairman Koji Karaike says.

Now the company, which loses money on its railway lines and generates profit from real estate, is on the verge of completing a 416 billion-yen (S$5.5 billion) IPO in what will be the world's third-biggest listing this year. The shares are set to start trading in Tokyo on Tuesday.