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Israeli cargo shipper ZIM Integrated Shipping Services files for a $100 million US IPO

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ZIM Integrated Shipping Services, an Israeli container shipping company with over 320K TEU capacity, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.

The company states that it is a global, asset-light container liner shipping company with leadership positions in niche markets where it believes it has competitive advantages that allow it to maximize market position and profitability. As of September 30, 2020, it operated a global network of 66 weekly lines, calling at 310 ports in more than 80 countries.

The Haifa, Israel-based company was founded in 1945 and booked $3.5 billion in sales for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol ZIM. ZIM Integrated Shipping Services filed confidentially on September 30, 2020. Citi, Goldman Sachs, Barclays, Jefferies and Clarksons Platou Securities are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Israeli cargo shipper ZIM Integrated Shipping Services files for a $100 million US IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

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