Hapag Lloyd looks set to launch its initial public offering (IPO) by mid-November this year, according to reports from Germany’s Hamburger Abendblatt newspaper.
The company’s stock is to be listed on the Frankfurt Stock Exchange, in what is hoped could raise up to $5.5bn. Hapag Lloyd has so far refused to comment on the offering.
Previous reports have suggested the IPO has been spurred by Hapag-Lloyd’s solid second-quarter financial performance, which has given senior management the confidence to push ahead with the offering before 2016.
Investment banks Deutsche Bank, Goldman Sachs and Joh Berenberg, Gossler & Co have been appointed as advisors to the IPO.