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.

BY OLE ANDERSEN

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.

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