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

Oil Loading in Venezuela Crawls After New US Interceptions

FMC Investigates Spain’s Restrictive Port Practices

The Northwest Seaport Alliance Retires Two Legacy Cranes from Terminal 7

Current News

Port of Oakland Moves 174,239 TEUs in November as Exports Increase

CMA CGM Vessels Navigate the Suez Canal, Hinting at Easing Tensions

Oil Loading in Venezuela Crawls After New US Interceptions

FMC Investigates Spain’s Restrictive Port Practices

Subscribe for Maritime Logistics Professional E‑News