Russia’s Sovcomflot IPO Hobbled by Weak Freight Markets

By Oksana Kobzeva MOSCOW, Jan 15 (Reuters) - Russian state-owned shipping company Sovcomflot said on Tuesday that uncertain conditions in the freight market are delaying its long-planned initial public offering (IPO). The Russian government has weighed a listing of Sovcomflot for years as part of broader privatisation plans, but obstacles ranging from weak markets to … [Read more...]

Oman’s Renaissance Is Said to Mull $1.5 Billion Topaz Energy IPO

By Ruth David and Dinesh Nair (Bloomberg) -- Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalization of about $379 million, could seek a valuation of about $1.5 … [Read more...]

Israeli Shipping Company Zim May Be Planning U.S. IPO

  By Yaacov Benmeleh (Bloomberg) -- Zim Integrated Shipping Services Ltd., a marine transportation company, hired Bank of America Corp.’s Merrill Lynch unit and Barclays Plc to lead an initial public offering in the U.S., according to two people with knowledge of the matter. The Haifa, Israel-based company, a unit of billionaire Idan Ofer’s Kenon Holdings Ltd., is … [Read more...]

Hapag-Lloyd Advances Plans for $500 Million IPO

  By Angela Cullen and Nicholas Brautlecht (Bloomberg) -- Hapag-Lloyd AG, Germany’s biggest shipping line, is seeking to raise $500 million from the sale of new shares as it presses ahead with an initial public offering even as a Chinese slowdown and a rout in Volkswagen AG shares sparked turmoil on stock markets. Hapag-Lloyd expects to raise about $400 million … [Read more...]

Hapag-Lloyd IPO Timing in Doubt

  FRANKFURT, Sept 4 (Reuters) - German container shipping group Hapag-Lloyd has taken further steps in preparation of a stock market listing and has mandated more banks for the move, but it remains undecided on the timing of the deal, people familiar with the situation said. Credit Suisse, Citi and HSBC have been asked to help organise the initial public offering, … [Read more...]