AsiaContainersFinance and Insurance

SM Line puts IPO on hold

SM Line has put its initial public offering on hold, citing lack of demand from institutional investors.

The Korean carrier, founded five years ago around the same time Hanjin Shipping collapsed, had been looking to raise around $722m from the listing in Seoul.

“We have completed all the preparations for the IPO, however, rather than rushing to list, we decided to dispel market concerns and re-launch the IPO at an appropriate time,” SM Line stated.

Finding an appropriate time to list will be difficult as 2021 has marked an all time high for containerline profits, with many analysts suggesting the market has now plateaued.

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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