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Georgian Railway, owned by the state is valuing its share capital at between $800m and $1bn when trading starts on the London Stock Exchange this month. Freight traffic accounted for 95% of its revenues last year, and it is investing in modernisation. The planned IPO is an interesting direction for a state-owned monopoly to go, and puts freight firmly under investors’ microscopes. The FT also has a good article on it – if you can access it – here