ZIM Announces Launch Of Initial Public Offering

Rhea-AI Summary

ZIM Integrated Shipping Services Ltd. announced an initial public offering (IPO) of 17,500,000 ordinary shares, priced between $16.00 and $19.00 per share. The company plans to grant underwriters an option to purchase an additional 2,625,000 shares at the IPO price. The shares will trade on the New York Stock Exchange under the ticker symbol ZIM. Citigroup, Goldman Sachs, and Barclays are acting as global coordinators for the offering. A registration statement has been filed with the SEC but is not yet effective, thus sales cannot occur until it is approved.

Positive

• IPO of 17,500,000 ordinary shares planned at $16.00 to $19.00 per share.
• Potential to raise significant capital for business expansion.

Negative

• Dilution risk for existing shareholders with the new share issuance.

HAIFA, Israel, Jan. 19, 2021 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (the "Company"), a global container liner shipping company with over 75 years of experience, announced today it has commenced an initial public offering of 17,500,000 ordinary shares of its share capital. The initial public offering is expected to be at a price of between $16.00 and $19.00 per share. ZIM expects to grant the underwriters of the initial public offering an option, exercisable over a 30 day period, to purchase up to 2,625,000 additional ordinary shares of its share capital at the initial public offering price. The ordinary shares are expected to trade on the New York Stock Exchange under the ticker symbol "ZIM".

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.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering, when available, may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-800-831-9146; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847 or by email at barclaysprospectus@broadridge.com.

A registration statement on Form F-1 relating to these offered securities has been filed with the US Securities and Exchange Commission but has not yet become effective. These securities to be registered may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About ZIM

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.

Forward Looking Statements 

Statements included herein may constitute forward-looking statements which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors.

Contact Detail:
Avner Shats
shats.avner@zim.com 
ZIM Integrated Shipping Services Ltd.

View original content:http://www.prnewswire.com/news-releases/zim-announces-launch-of-initial-public-offering-301211310.html

SOURCE ZIM Integrated Shipping Services Ltd.

FAQ

What is the price range for ZIM's initial public offering?

ZIM's initial public offering is priced between $16.00 and $19.00 per share.

How many shares is ZIM offering in its IPO?

ZIM is offering 17,500,000 ordinary shares in its initial public offering.

What is the ticker symbol for ZIM on the New York Stock Exchange?

The ticker symbol for ZIM on the New York Stock Exchange is 'ZIM'.

Who are the underwriters for ZIM's IPO?

Citigroup, Goldman Sachs, and Barclays are the global coordinators for ZIM's IPO.

What is the expected additional share option for ZIM's IPO?

ZIM expects to grant underwriters an option to purchase up to 2,625,000 additional shares at the IPO price.