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Zim decided to delay New York IPO due to weak market conditions

It is understood that senior management took the decision to delay the listing on the back of the poor reception German boxline got from its Frankfurt IPO in November
10.01.16 / 10:11
Zim decided to delay New York IPO due to weak market conditions
10.01.16
Zim decided to delay New York IPO due to weak market conditions

Israel’s containerline Zim Integrated Shipping Services Ltd. has taken heed of the deteriorating market conditions and slowing world trade and delayed a planned New York Stock Exchange initial public offering.

 

Bank of America, Merrill Lynch and Barclays Plc are known to be leading an initial public offering of the Israeli shipping firm on Wall Street.

 

Zim, the world's 17th largest shipping line, is a unit of Kenon Holdings, controlled by billionaire Idan Ofer.

 

It is understood that senior management took the decision to delay the listing on the back of the poor reception German boxline got from its Frankfurt IPO in November.

 

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