Russian Railways plans to float stake in cargo unit

Russian Railways, the world's largest infrastructure company, plans to sell 35 percent minus one share in its cargo unit TransContainer in an initial public offering, according to CEO Vladimir Yakunin, Reuters reported.

Russian Railways executives earlier said the IPO may take place at the end of this year or early next year, and the company can opt for a listing in Hong Kong.

Russian Railways' board has already approved the sale.

(source: Cargo News Asia)