Frankfurt Stock Exchange News

Hapag-Lloyd CEO says IPO preparation a "tough fight" but firm reaps $300 million in proceeds. Shares in Hapag-Lloyd hovered around their issue price in their stock market debut as investors gave the German shipping group a lukewarm reception reflecting uncertainty over the resilience of stock markets and the shipping industry. The shares started trading at 20.05 euros ($21.81) but fell to their issue price of 20 euros apiece within minutes. Weak demand had prompted Hapag-Lloyd to postpone the initial public offering, trim the number of shares on offer, lower the price range and then to price at the bottom of the revised 20-22 euros range.

Container shipping group Hapag-Lloyd trimmed its initial public offering (IPO) amid wobbly markets on Wednesday, saying it now expected to raise about $300 million from the sale of shares to investors. The group, which gave a 23-29 euros price range for the shares, previously said it aimed to raise $500 million in its stock market flotation to invest in new ships and containers. Hapag-Lloyd joins several German companies that have recently had to curb their capital raising ambitions, like plastics maker Covestro and automotive supplier Schaeffler.

German ocean carrier Hapag-Lloyd aims to launch preparations for an initial public offering (IPO) in September, which is sooner than it originally planned, as a result of strong financial results, says Reuters. Hapag-Lloyd’s solid second quarter financial performance, results of which will be published this month, has given senior management confidence to push ahead with listing plans earlier than planned. The Hamburg-based company has already picked Deutsche Bank, Goldman Sachs and Berenberg to lead the transaction, Reuters reported previously. The IPO could raise more than $5.5bn, according to reports from earlier this year. There have been talks of a potential IPO of Hapag-Lloyd around the turn of the year…

German container shipping group Hapag-Lloyd aims to launch preparations for a stock market flotation in September, earlier than initially planned, four sources familiar with the transaction told Reuters on Thursday. That would permit the company's shares to trade on the Frankfurt stock exchange as early as October, the financial sources said. The company originally aimed to list its shares at the end of 2015 or in 2015 after its earnings performed well for several quarters running. The group's strong earnings performance in the second quarter allowed it to advance its listing plans, the sources said. The company plans to publish second-quarter results next later in August. In the first quarter, the company swung to a first-quarter profit thanks to the stronger U.S.

A flotation of a minority stake could value the world's fourth-largest shipping group German-Chilean Hapag-Lloyd AG at more than 5 billion euros ($5.5 billion) and could take place as early as autumn. Hapag-Lloyd AG has already mandated investment banks Deutsche Bank AG, Goldman Sachs Inc. and Joh. Berenberg, Gossler & Co. to advise on the initial public offering (IPO), as per various media reports. The reports indicate Hapag-Lloyd expediting efforts to float a minority stake on the Frankfurt stock exchange as early as this fall. The net proceeds from the IPO could be used to cover the company’s pretty extensive debt of USD 3.65 billion. However, the plans are yet to be confirmed by Hapag-Lloyd.

*  Attractive offer price of €24 per share for Tognum shareholders. (Stuttgart/London)  –  Daimler  AG,  the  global  automotive  company  and  Rolls-Royce Group plc, the global power  systems  company, announced  today  that  they  intend  to launch a public  tender offer  for 100 per cent of  the share capital of Tognum AG. The public tender offer is intended to be carried out by a 50:50 joint venture company. Listed on the Frankfurt Stock Exchange, Tognum AG is a premium supplier of engines…