Kazakhstan Temir Zholy board approves 1-for-5 share split ahead of IPO

September 29, 2026 at 02:21 PM2 min

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Kazakhstan Temir Zholy (KTZ) board of directors approved a 1-for-5 split of its common shares, the company said in a corporate notice on KASE. The split will increase the number of placed common shares to 2,483,478,380 from 496,695,676. The move requires approval from sole shareholder Samruk-Kazyna and will be completed before the planned initial public offering.

Key Facts

KTZ's board of directors approved a 1-for-5 split of the company's common shares, according to a corporate notice published on KASE.
The split will increase the number of placed common shares to 2,483,478,380 from the current 496,695,676.
The decision must be approved by sole shareholder Samruk-Kazyna before the split is completed ahead of the IPO.
KTZ plans to list on AIX, LSE, and the Hong Kong Stock Exchange, with proceeds earmarked for debt repayment and investment projects.
KTZ's net profit more than doubled in 2025 to 343.6 billion tenge from 160.8 billion tenge a year earlier.

Share Split Decision

The board of directors of Kazakhstan Temir Zholy approved a 1-for-5 split of the company's common shares. The decision was disclosed in a corporate notice published on the Kazakhstan Stock Exchange (KASE). The split requires approval from the sole shareholder, Samruk-Kazyna, before it can be implemented. KTZ will complete the share split before the date of its planned initial public offering.

IPO Plans and Market Context

Hong Kong financial publication etnet reported that KTZ aims to raise up to $5 billion in the IPO at a total business valuation of up to $30 billion. The listing may start as early as October 2026, but a postponement to 2027 is not ruled out. KTZ plans to place securities on AIX, the London Stock Exchange, and the Hong Kong Stock Exchange. The Kazakhstan Association of Minority Shareholders (QAMS) said the stated valuation raises questions among professionals, citing differing assessments by independent investment banks and Samruk-Kazyna. Experts also pointed to KTZ's high debt burden.

Financial Performance

KTZ increased net profit more than twofold in 2025 to 343.6 billion tenge from 160.8 billion tenge a year earlier.