FRANKFURT, Oct 27 (Reuters) – German container transport group Hapag-Lloyd is suspending its inventory market debut by every week after traders turned its again on the corporate following peer Maersk’s revenue warning, two sources advised Reuters.

If demand for the shares stays weak Hapag might decrease the provide value, the folks accustomed to the deal mentioned on Tuesday, including that cancelling the IPO additionally remained an choice.

Hapag-Lloyd mentioned it was extending the provide interval for its preliminary public providing (IPO) by every week to Nov. 3, with buying and selling now more likely to begin on Nov. 6.

“The order book had been more than one time subscribed. Now the main goal is to get investors to come back who have shied away due to Maersk,” one of many folks mentioned.

Hapag-Lloyd reiterated that its earnings outlook remained unchanged, regardless of peer Maersk’s slashing its 2015 revenue targets final week.

Maersk Line, the world’s largest container transport firm which transports a fifth of all items on the busiest routes between Asia and Europe, has been hit by overcapacities, a hunch in freight charges. It lower its 2015 revenue goal by 15 %.

Hapag-Lloyd can also be affected by the slowdown in world commerce, however it’s much less uncovered to the Asia-Europe route than Maersk and different friends like China Shipping, Cosco and Hanjin.

While 27 % of Maersk’s fleet is Asia-bound, solely 17 % of Hapag’s ships are travelling on these routes, in contrast with 21 % on the Europe-North America routes, which have benefited from a robust U.S. greenback.

Hapag-Lloyd earlier this month trimmed the deliberate quantity of the IPO amid wobbly markets, becoming a member of a number of German teams which have lately needed to curb their capital-raising ambitions, like plastics maker Covestro and automotive provider Schaeffler.

People accustomed to the deal mentioned on Monday the corporate had guided traders to an IPO value of 23 euros per share, the underside of the 23-29 euro value vary.

Independent of the provide value, Hapag-Lloyd goals to boost 265 million euros from the IPO, adjusting the variety of shares accordingly. Shareholder TUI plans to promote shares price slightly below 100 million euros. (Reporting by Arno Schuetze and Alexander Hübner; Editing by Christoph Steitz and Georgina Prodhan)

(c) Copyright Thomson Reuters 2015.

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