Zim Exploring IPO on Foreign Exchange

Maritime Activity Reports, Inc.

August 24, 2020

(File photo: Zim)

(File photo: Zim)

Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.

A Zim spokesman said the company was not commenting.

Two options being examined are to hold the offering in London or New York, according to Globes, a financial news website, which did not cite its sources.

Zim, with a workforce of about 4,200 and which had turnover in 2019 of $3.3 billion, has hired three foreign banks to help with the IPO, which will value the shipping company at $750 million, Globes said.

Zim's shareholders include Kenon Holdings Ltd , which owns 32%. A number of financial institutions and ship owners hold the remaining 68%.

(Reporting by Ari Rabinovitch Editing by Steven Scheer)

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News