Hapag-Lloyd Unveil $5.5bn IPO Plan

Twitter
Facebook
LinkedIn
Email

German-Chilean container line Hapag-Lloyd AG has authorised a number of investment banks to advise on an initial public offering (IPO) which could value the shipping company at around US$5.5 billion, according to the Wall Street Journal.

The investment banks involved in the advisory of the IPO are Deutsche Bank AG, Goldman Sachs and Joh. Berenberg Gossler & Co.

This news follows the recent announcement that Hapag-Lloyd and Chilean shipping line Compañía Sud Americana de Vapores (CSAV) had completed the merger of its container shipping business, making it the fourth largest in the world.

The banks said that Hapag Lloyd is also planning to float a minority stake on the Frankfurt stock exchange in Autumn, 2015.

The shipping line had stated that it intended to finalise its merger with CSAV and focus more on productivity before following through with the IPO.

Hapag Lloyd competes with larger rivals on the Asia-Europe, trans-Atlantic and trans-Pacific routes.

The IPO is intended to reduce company debt that totals around $3.5 million.

(Source: iStock)

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.
FREE

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.