News / Happy first half for Ceva Logistics as a successful IPO starts to deliver

Operating income more than halved after specific items and SBC for Ceva Logistics during the first six months of what the company described as a “transformative period”.

Between January and June, Ceva listed on the Six Swiss Exchange, generating proceeds of $820m, and shipping line CMA CGM taking a 24.99% stake for $378m.

“We have used a substantial part of the proceeds from the IPO and the concurrent private placement to CMA CGM in May to repay debt,” said the operator.

“As a consequence, ...