Hapag-Lloyd continuing with IPO plans despite uncertain market conditions

Hapag-Lloyd continuing with IPO plans despite uncertain market conditions

Despite choppy investor sentiment at present and dire rates on many container tradelanes, German boxline Hapag-Lloyd is sticking to its IPO course, the company’s ceo told a German newspaper yesterday.

“There will never be a perfect time … one should not be too dependent on (the market). From a company perspective, it is a good time,” Rolf Habben Jansen told Frankfurter Allgemeine Sonntagszeitung (FAS).

Hapag-Lloyd is looking at raising around $500m in the next month from a listing in Frankfurt. Money raised will go on fleet expansion.

Habben Jansen also warned of more job cuts at the line, which merged with Chile’s CSAV last year.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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