Hapag-Lloyd IPO Expected to Price at 20 Euros Per Share -Source

Photo: Hapag-Lloyd

FRANKFURT, Nov 2 (Reuters) – German shipping group Hapag-Lloyd is likely to price its initial public offering at the low end of a revised range of 20-22 euros ($22.08-$24.29) a share, a person familiar with the matter told Reuters on Monday.

“It’s no easy thing,” the person said, adding that he believed the IPO will go through and not to be canceled.

Books are to close on Tuesday and trading to start on Friday.

After trimming the planned IPO volume Hapag-Lloyd also lowered the price range after a profit warning from peer Maersk due to worse-than-expected overcapacity in the industry rocked already wobbly markets last week. ($1 = 0.9058 euros) (Reporting by Arno Schuetze; Editing by Georgina Prodhan, Kirsti Knolle)

(c) Copyright Thomson Reuters 2015.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up