Hapag-Lloyd IPO Timing in Doubt

FRANKFURT, Sept 4 (Reuters) – German container delivery group Hapag-Lloyd has taken additional steps in preparation of a inventory market itemizing and has mandated extra banks for the transfer, however it stays undecided on the timing of the deal, individuals conversant in the scenario stated.

Credit Suisse, Citi and HSBC have been requested to assist organise the preliminary public providing, alongside international coordinators Deutsche Bank, Goldman Sachs, and Berenberg, the individuals stated. Three additional banks together with MM Warburg are performing in additional roles, one of many individuals stated.

Hapag-Lloyd and the banks declined to remark.

Last month, Hapag-Lloyd determined to organize for an official announcement of the IPO as early as September, however China’s market woes have prompted it to rethink the timing of the deal, the individuals stated.

“The Hapag-Lloyd story needs a strong market, as its business depends on global growth and trade flows,” one of many individuals stated.

Investor assumptions on the event of the China market disaster and potential results on the actual financial system and commerce exercise are being taken into consideration when selecting a date for the flotation, the particular person stated.

“No final decision has been taken, the intention to float may still be published later this month,” the particular person stated.

Between 20 and 40 European listings are scheduled within the subsequent few months, and bankers concerned in such offers are hopeful that markets roiled by China’s limp development prospects could be sufficiently soothed. (Reporting by Arno Schuetze and Alexander Hübner; Additional reporting by Freya Berry and Jan Schwartz; Editing by Maria Sheahan)

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