Germany’s Hapag-Lloyd Flounders in Market Debut

  By Arno Schuetze FRANKFURT, Nov 6 (Reuters) - 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 … [Read more...]

Hapag-Lloyd IPO to Go Ahead Amid Depressed Market

  FRANKFURT, Nov 3 (Reuters) - German shipping group Hapag-Lloyd priced its initial public offering (IPO) at the low end of a revised range, giving the group a market capitalisation of about 2.4 billion euros ($2.6 bln) or less than half the original target. Hapag-Lloyd shares were sold at 20 euros ($21.92) apiece, the German shipping company said on Tuesday, … [Read more...]

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

  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 … [Read more...]

Hapag-Lloyd Revises IPO Again as Maersk Warning Damps Demand

  By Nicholas Brautlecht (Bloomberg) -- Hapag-Lloyd AG adjusted its initial public offering plan for the third time this month, potentially depriving part-owner TUI AG of an option to sell any of its holding, in a bid to attract investors spooked by a dismal outlook from shipping-industry leader A.P. Moeller-Maersk A/S. The Hamburg-based container carrier, citing … [Read more...]

Hapag-Lloyd Postpones IPO After Maersk Profit Warning Scares Off Investors

  FRANKFURT, Oct 27 (Reuters) - German container shipping group Hapag-Lloyd is postponing its stock market debut by a week after investors turned its back on the company following peer Maersk's profit warning, two sources told Reuters. If demand for the shares remains weak Hapag may lower the offer price, the people familiar with the deal said on Tuesday, adding that … [Read more...]