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Hapag-Lloyd targets USD 500 million with IPO

German container carrier Hapag-Lloyd is looking to sell shares for a total USD 500 million, and will seek listings in Hamburg and Frankfurt before the end of 2015.

Photo: Hapag-Lloyd

Hapag-Lloyd, the world's fourth-largest container carrier, is looking to raise USD 500 million through public listings in Hamburg and Frankfurt before the end of 2015, says the carrier in a statement on Monday.

The IPO has been planned and prepared since Hapag-Lloyd acquired Chilean container carrier CSAV, which is now also majority stakeholder in the German container carrier with a 34 percent stake, while the remaining owners include the Hamburg City Council, Klaus-Michael Kuehne and travel group TUI.

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