ZIM Integrated Shipping (ZIM) IPO Opens Down 23%

Today's IPO for ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) opened for trading at $11.50 after pricing 14,500,000 ordinary shares at a price of $15.00 per ordinary share.

ZIM has granted the underwriters a 30-day option to purchase up to additional 2,175,000 ordinary shares at the initial public offering price.

Citigroup, Goldman Sachs & Co., LLC., and Barclays are acting as global coordinators and Jefferies and Clarksons Platou Securities are acting as joint bookrunners for the proposed initial public offering.

ZIM is a global, asset-light container liner shipping company with leadership positions in the markets where it operates. Founded in Israel in 1945, ZIM is one of the oldest shipping liners, with over 75 years of experience, providing customers with innovative seaborne transportation and logistics services with a reputation for industry leading transit times, schedule reliability and service excellence.

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