Joint Stock Company National Company Kazakhstan Temir Zholy Submits HKEX Listing Application, One of Central Asia’s Largest Railway Operators
NewTimeSpace News: Joint Stock Company National Company Kazakhstan Temir Zholy filed a Main Board listing application with The Stock Exchange of Hong Kong Limited on 30 June, with China International Capital Corporation (CICC) as the sole sponsor. As Kazakhstan’s national transport and logistics operator, the Group runs approximately 16,000 kilometres of mainline railway network, generating revenue of USD5.646 billion and EBITDA of USD1.787 billion in 2025.
NewTimeSpace News: Per HKEX disclosures, Joint Stock Company National Company Kazakhstan Temir Zholy submitted its Main Board listing application to HKEX on 30 June 2026, with CICC appointed as the sole sponsor.
Wholly owned by Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, KTZ operates the country’s mainline railway network spanning around 16,000 kilometres, ranking third among CIS and Baltic states adopting the 1,520mm rail gauge. It owns Kazakhstan’s largest fleet of locomotives and rolling stock. In 2025, its railway freight turnover accounted for roughly 80% of Kazakhstan’s total market volume, with annual transit container throughput hitting about 1.4 million TEUs. Its business footprint covers all 17 regions across Kazakhstan, maintaining cross-border operations with five neighbouring countries including China and Russia via 16 key hub terminals.
As one of Kazakhstan’s largest employers, the Group has a workforce of 119,542 employees. For the full year 2025, it posted revenue of USD5.646 billion, EBITDA of USD1.787 billion and operating cash flow of USD1.529 billion, delivering a compound annual growth rate of 19.4% in revenue from 2023 to 2025.
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