Key facts
- Nurlan Zhakupov, chief executive of sovereign wealth fund Samruk-Kazyna, was arrested on suspicion of corruption, per the report.
- Yelzhas Otynshiyev, head of national railway operator KTZ, was arrested on suspicion of corruption, per the report.
- KTZ is seeking to list in Astana, Hong Kong and London, per the report.
- Analysts cited by the report expect the Hong Kong listing to be delayed.
Kazakhstan has arrested the heads of its sovereign wealth fund and its national railway company on suspicion of corruption, according to a report dated November 12, 2026. The two are Nurlan Zhakupov, chief executive of Samruk-Kazyna, and Yelzhas Otynshiyev, head of the railway operator KTZ.
The arrests came as KTZ cleared a key hurdle in Hong Kong for a planned international share sale. The operator is seeking to list in Astana, Hong Kong and London, and gained approval from Hong Kong Exchanges and Clearing, the report said.
Analysts cited by the report expect the listing to be delayed and said the arrests could weigh on demand for the share sale. The report did not state the charges in detail, the status of the two men, or a date for the listing.