GL: Zim Wall Street IPO falls short

Hot key for expectations

GLOBES reports:

The Israeli shipping company has raised $218 million at $15 per share, below the $16-$19 range announced last week.

Israel-based global container company Zim Integrated Shipping Services Ltd. has raised $218 million in its initial public offering (IPO) on the New York Stock Exchange (NYSE). The company sold 14,500,000 ordinary shares at a price of $15.00 per ordinary share, at a company valuation of $1.75 billion, after money, below the price range of $16-$19 per share cited by the company last week when it announced terms.

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The full statement released by the company is here.