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Hapag-Lloyd Launches $500 Million IPO

September 29, 2015 12:05 am Published by

Hapag-Lloyd has begun a $400 million IPO process that increases $100 million, to $500 million, with an investment from two of its core stakeholders – CSAV and Kuhne Maritime.

The IPO is an important milestone for Hapag-Lloyd … good for our customers, our people and our shareholders.- Chief Executive, Hapag-Lloyd

Company officials have said that Hapag-Lloyd intends to list its shares on both the Frankfurt and Hamburg stock exchanges, and will use the proceeds to fund "further investments in ships and containers."

Following the acquisition of CSAV, Hapag-Lloyd reported its first interim profit in three years, recording €157 million for the first half of 2015.

We have good momentum, our results have improved and we have made up ground versus our competition. We owe this to our committed staff who have done a good job in a difficult environment. Thanks to the dedication of our whole crew we intend to capitalise on opportunities for growth in the sector and make our business model more profitable and resilient.- Chief Executive, Hapag-Lloyd

Officials expect the company will deliver an additional $100 million in "annual synergy saving" to the original $300 million that company analysts had estimated by 2017.

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