KTZ passes HKEX listing hearing: CICC sole sponsor, 99.7% freight share

NewTimeSpace News: On 12 November 2026, the Post Hearing Information Pack of Joint Stock Company National Company Kazakhstan Temir Zholy (KTZ) was published on the HKEX website, meaning the Company has passed the listing hearing, with CICC as sole sponsor. The Group is Kazakhstan's national transport and logistics operator, providing land transport corridors that link the country's production centres with China, Central Asia, Russia, the Caspian region and Europe, and is wholly owned by the Government through sovereign wealth fund Samruk-Kazyna.

The Group operates as a mainline railway infrastructure operator, a railway carrier and a transport and logistics services provider, covering network access, locomotive traction, rolling stock, freight forwarding, terminals and warehousing. According to a KPMG report, the Group operates Kazakhstan's mainline railway network and owns the country's largest fleet of locomotives and railway vehicles; by railway length, Kazakhstan ranks third among the CIS and Baltic states using the 1,520 mm gauge, with about 16,000 km of track. As at 30 June 2026, the Group had 119,910 employees, ranking among the country's largest employers.

In 2025, the Group accounted for 99.7% of Kazakhstan's total rail freight turnover (289.0 billion tonne-km), with average annual container transit traffic of about 1.4 million TEU; its network covers 16 hub nodes across 17 regions of the country and connects five neighbouring countries, namely China, Russia, Kyrgyzstan, Uzbekistan and Turkmenistan. Revenue was USD 5,645.5 million in 2025 and operating cash flow was USD 1,529.2 million, with compound annual growth rates of 19.4% and 56.1% respectively from 2023 to 2025.