Reuters is reporting that the Mongolian government plans to sell off a 49-percent stake in the state-owned Mongolian Railway Company. The shares will be offered in an IPO. No date had been set. Proceeds from the listing would help fund the country’s ambitious railroad building program.
Mongolia has one of the lowest railroad densities in the world, but the country plans to more than triple its rail network to reach Chinese and Russian borders, accessing their ports to bolster trade with countries such as Japan and South Korea.