Comment / On the wires: The IPO binge – ZIM, the next Ceva, a precursor for CMA CGM

“Zim has hired (…) three foreign investment banks (…). Any offering is likely to be conducted at a company valuation of $750 million, or even more for Zim.” – Globes, 24 August 2020. 

In early 2007, at the height of the market and only a few months away from the credit crunch’s first symptoms, one of the worryingly ever-close-to-reality jokes in the City was that we had reached such a tipping point that private equity could even venture into a leveraged ...