News / Hapag-Lloyd launches IPO prospectus as the line teeters on the brink of new losses

© Khunaspix Dreamstime.

Hapag-Lloyd today launched its share prospectus for its forthcoming IPO, reducing the amount it is seeking to raise from new investors from $400m to $300m, hoping buyers will be undeterred by current stock market volatility or structural problems facing container shipping.

The company plans to offer 15.7m new shares in the flotation, with 11.5m to go on sale to new investors and the remainder allocated to existing stakeholders Kuehne Maritime and CSAV.

The offer period will last until 27 October, with a ...