ZIM Integrated Shipping Services Ltd., a global container liner shipping company with over 75 years of experience, announced it has commenced an initial public offering of 17,500,000 ordinary shares of its share capital.
The initial public offering is expected to be at a price of between $16.00 and $19.00 per share. ZIM expects to grant the underwriters of the initial public offering an option, exercisable over a 30 day period, to purchase up to 2,625,000 additional ordinary shares of its share capital at the initial public offering price. The ordinary shares are expected to trade on the New York Stock Exchange under the ticker symbol “ZIM”.
Citigroup, Goldman Sachs & Co., LLC., and Barclays are acting as global coordinators and Jefferies and Clarksons Platou Securities are acting as joint bookrunners for the proposed initial public offering.