Public float of QR National

[5] The business model in the Queensland coalfields was to be similar to Class I railroads in North America, which are vertically integrated with ownership of the trains used to carry freight and the infrastructure they run upon.

[6] The initial public offering of the freight and coal businesses occurred on 22 November 2010,[4][7] with the sale raising $4.6 billion.

[10] The consortium made a formal $4.85 billion offer on 26 May for the tracks used exclusively or predominantly to haul export coal to port, and excluding QR's trains and freight businesses.

[12] Premier Anna Bligh and Treasurer Andrew Fraser said it would consider the offer but believed a public float was the best option.

[11] QR chief executive Lance Hockridge rejected the bid in June 2010, saying it is not in the best interests of the future expansion of the state's coal network.

[5] Pre-registration for the QR National share offer opened on 19 September 2010, with Queensland residents and smaller market players invited to pre-register.