Hapag-Lloyd has recently announced that it has launched itself onto the Frankfurt stock exchange with the carrier’s shares sitting at US$22 per issue, according to the Journal of Commerce.
Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “It was a tough fight. We are satisfied with the interest of investors and the demand for our shares…despite a challenging market environment we have successfully been able to complete this important step.”
Hapag-Lloyd’s initial public offering raised $300 million that it plans to spend on new ships and containers.
Watch a corporate video on Hapag-Lloyd
This is significantly lower than the Wall Street Journal’s estimate of several billion dollars. However, the listing has been deemed as attractively priced.
The Hamburg-based carrier delayed the IPO, reduced its targeted volume from $500 million.
Fact File: Founded in 1847, the shipping company transports textiles, food and technology products, but also transports items which cannot fit into a standard-sized shipping containers, such as trains and over-sized machinery.