ContainersEuropeFinance and Insurance
Hapag-Lloyd’s IPO to raise €300m
Hamburg-based containerline Hapag-Lloyd officially priced its Friday Frankfurt IPO yesterday at EUR20 ($21.91), very much at the lower end of the bookbuilding range. The line, which had initially set out to raise EUR500m from the listing, will have to settle for EUR300m, buffeted by endless bad news stories about the dire state of the container market.
According to Alphaliner, Hapag-Lloyd, which merged with Chile’s CSAV last year, is the fifth largest contanerline in the world with 921,909 slots in its fleet including newbuilds.