QR float sees opposition

As QR moves closer to a float, it has drawn opposition from unions and the Queensland Liberal party.

As QR moves closer to a float, it has drawn opposition from unions and the Queensland Liberal party.

The two have called for the float of the assets to be called off, despite it being scheduled in a few weeks.
The asset sale is part of the State’s $15 billion asset sell off.

The listing of the rail service is expected to put the infrastructure business in Australia’s top 50 companies.

Pre-registration for the initial public offering opened yesterday, with the full IPO to begin next month.

The sale of the rail network has drawn opposition due to the fears that privatisation will cost jobs, and the State.

However, QLD treasurer Andrew Fraser countered that the business would do much better in private hands.

"Right now as the Treasurer of Queensland, I’m writing cheques on behalf of Queensland taxpayers to purchase train sets to haul iron ore in Western Australia, trains to haul coal in New South Wales,” Fraser said.

"I think it is high-time that QR goes from being just a great Queensland company to being a truly great Australian company and I think that this opportunity provides for just that result."

QR is Australia’s largest rail freight company, and one of the world’s largest haulers of coal from mine to port.

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