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

US Commerce Disorganization Stalls Thousands of Export Approvals

As China's Economy Slows, So Too Does Dry Bulk Shipping

Panama Auditor Files Suit to Scrap CK Hutchison-Controlled Port Contract

Current News

US Commerce Disorganization Stalls Thousands of Export Approvals

Russian Oil Vessels Forced to Divert From India Under US Sanctions

Hanseatic Global Terminals Launches Latin America Expansion

Two CK Hutchison-Operated Ports Near Panama Could See State Partnerships Take Over

Subscribe for Maritime Logistics Professional E‑News