Alphaliner: Hapag-Lloyd IPO faces big challenges

By appointing ten major banks to manage Hapag-Lloyd's IPO, the German container carrier seems to have realized that this is a very risky time to perform an IPO, according to Alphaliner.

Hapag-Lloyd's plans for an IPO in Hamburg and Frankfurt before the end of 2015 are challenged by several negative and historically difficult conditions in the container industry. The mere fact that the company has hired 10 international banks, led by Berenberg, Deutsche Bank and Goldman Sachs, indicates that the company and its major shareholders are aware that the timing appears very difficult, notes analyst agency Alphaliner.

The assessment comes in the wake of the announcement that Hapag-Lloyd, the world's fourth-largest container carrier, plans to raise around USD 500 million through an IPO in the near future. An IPO that has been planned and prepared since Hapag-Lloyd acquired Chilean carrier CSAV, which now serves as the majority stakeholder the German container carrier with 34 percent of the shares. The remaining owners are the Hamburg City Council, Klaus-Michael Kuehne and travel group TUI.

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