Israeli shipper Zim exploring IPO on foreign exchange, Globes reports
24/08/2020 16:11
JERUSALEM, Aug 24 (Reuters) - Israeli shipping company Zim
is considering an initial public offering on a foreign exchange,
Israeli news website Globes reported on Monday.
A company spokesman was not reachable for immediate comment.
Two options being examined are to hold the offering in
London or New York, according to Globes, a financial news
website, which did not cite its sources.
Zim, with a workforce of about 4,200 and which had turnover
in 2019 of $3.3 billion, has hired three foreign banks to help
with the IPO, which will value the shipping company at $750
million, Globes said.
Zim's shareholders include Kenon Holdings Ltd KEN.N
KEN.TA , which owns 32%. A number of financial institutions and
ship owners hold the remaining 68%.
(Reporting by Ari Rabinovitch
Editing by Steven Scheer)
((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))