Israeli liner ZIM exploring IPO on foreign exchange, Globes reports

Israeli shipping company ZIM is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.

A ZIM spokesman said the company was not commenting.

Two options being examined are to hold the offering in London or New York, according to Globes, a financial news website, which did not cite its sources.

ZIM, with a workforce of about 4,200 and which had turnover in 2019 of $3.3 billion, has hired three foreign banks to help with the IPO, which will value the shipping company at $750 million, Globes said.

ZIM’s shareholders include Kenon Holdings Ltd, which owns 32%. A number of financial institutions and ship owners hold the remaining 68%.