Zim debuts on New York Stock Exchange with big drop

Container line Zim's stock market debut in New York on Thursday did not get off to a great start, as the share begins with a drop.

ZIM valgte tidligere at sælge færre aktier og til en lavere pris end oprindeligt planlagt. Rederiet, der har hjemme i Haifa i Israel, solgte 14,5 mio. aktier til 15 dollar per styk. | Photo: Finn Frandsen

Israeli container line Zim Integrated Shipping, which debuted on the New York Stock Exchange on Thursday, had to reduce its ambitions for number of shares sold, and the trading of Zim subsequently began deep in the red.

The Zim share went down USD 3.48 to USD 11.52 per share, and as the new shares were launched at a price of USD 15 apiece, the price ended up dropping 23.2 percent on the first day of trading.

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