Robust quarterly profits advances Hapag-Lloyd listing plans to September
GERMAN shipping giant Hapag-Lloyd aims to prepare for an earlier than planned stock market flotation, sources familiar with the deal told Reuters.
These sources said the scheme would allow Hapag-Lloyd shares to trade on the Frankfurt stock exchange as early as October.
The company has already picked Deutsche Bank, Goldman Sachs and Berenberg to lead the transaction.
The company's robust second quarter profits allowed it to advance its listing plans, the sources said. The company plans to publish second-quarter results later in August.
In the first quarter, the company swung to a first-quarter profit thanks to the stronger dollar, lower bunker fuel prices and first effects from its merger with Chilean carrier CSAV.