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Wobbly capital markets downscale Hapag-Lloyd's IPO plans

Weak capital markets make Germany's Hapag-Lloyd lower its ambitions for how much the carrier will be able to raise by going public, though CEO Rolf Habben Jansen stresses that the IPO is the right direction for the company.

Photo: Hapag-Lloyd

Hapag-Lloyd has trimmed its expectations for how much the German carrier will be able to raise through its upcoming IPO, informs the company in a statement on the day when the initial public offering is set in motion, while trading of the shares is expected to begin on the Hamburg and Frankfurt exchanges in late October.

The container carrier originally projected to raise around USD 500 million for new investments by going public, but these ambitions are now downsized to around USD 300 million. CEO Rolf Habben Jansen stresses in the statement that Hapag-Lloyd has proved its worth in the container industry.

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