Hapag-Lloyd Enters Frankfurt Stock Exchange


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.

Maritime analysts Drewry previously stated that Hapag-Lloyd’s IPO was competitively priced when put up against current market conditions.

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.

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