Zim Exploring IPO on Foreign Exchange

Monday, August 24, 2020

Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.

A Zim spokesman said the company was not commenting.

Two options being examined are to hold the offering in London or New York, according to Globes, a financial news website, which did not cite its sources.

Zim, with a workforce of about 4,200 and which had turnover in 2019 of $3.3 billion, has hired three foreign banks to help with the IPO, which will value the shipping company at $750 million, Globes said.

Zim's shareholders include Kenon Holdings Ltd , which owns 32%. A number of financial institutions and ship owners hold the remaining 68%.


(Reporting by Ari Rabinovitch Editing by Steven Scheer)

Categories: Finance Containerships

Related Stories

Port Constraints for Canada's Trans Mountain Pipeline May Crimp Oil Exports

China's Imports of Russian Oil Near Record High

US to Reimpose Oil Sanctions on Venezuela

Current News

Montrose Becomes First Port in Scotland to Provide Shore Power for Vessels

Port Operator JSW Infrastructure Q4 Profit Rises 10%

The Nordic Maritime Forum 2024 will happen in Oslo

Renewable Energy System Dedicated at Port of Long Beach

Subscribe for Maritime Logistics Professional E‑News