Hapag-Lloyd’s IPO to raise €300m

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.

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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