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Hapag-Lloyd drops share price on IPO

Wobbly market conditions have spurned the German container carrier to push down its IPO price range to USD 21.9 - USD 24.1, according to a press release Friday.

Ahead of its planned IPO next week, Hapag-Lloyd confirmed in a press release Friday morning that the carrier has reduced its share price from USD 21.9 - USD 24.1 (Euro 20 - Euro 22), down from the originally planned price range of USD 25 to USD 31.8. The dismal market outlook for container is to blame.

The carrier still maintains its USD 300 million profit gross proceeds expectations for the IPO.

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