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ZIM opts for Hong Kong listing

Article-ZIM opts for Hong Kong listing

ZIM opts for Hong Kong listing

Hong Kong: In a coup for Hong Kong Exchanges and Clearing Israel's ZIM Integrated Shipping Services is lining up as a listing candidate on the main board this year, according to the South China Morning Post.
The firm could potentially raise more than US$500 million from the share sale.
ZIM would be the first Israeli company to list in Hong Kong following a HKEx roadshow last year to the Middle East to attract more overseas companies to trade shares on the city's bourse.
The listing candidate has mandated US investment banking giants Goldman Sachs and Morgan Stanley as arrangers of the offering, another insider said.
ZIM operates around 100 vessels with a total carrying capacity of 240,000 20-foot equivalent units (teu). It has a further 50,000 slots on order making it the fourteenth largest container line in the world according to the latest figures from AXS Marine.
The company recently bought eight smaller container ships of 1,700-teu capacity each and two 2,500-teu vessels to support and complement the services provided by the large ships, it said on its website.
ZIM has a long connection with Hong Kong via its intra-Asia subsidiary, Gold Star, which is headquartered in the former British colony. [25/02/08]

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