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Hapag-Lloyd extends IPO deadline by a week
GERMAN container shipping group Hapag-Lloyd has extended the offer period for its initial public offering (IPO) by a week to November 3, the company said.
Hapag-Lloyd said it would publish a supplement to the IPO prospectus issued on October 14 in due course, according to media reports.
Books were slated to close on Tuesday and trading was scheduled to start tomorrow on the Frankfurt Stock Exchange.
However demand for the shares remains subdued even after Hapag-Lloyd earlier this month trimmed its IPO by 40 per cent amid wobbly markets. It now plans to raise US$300 million instead of $500.
Hapag-Lloyd on Monday reiterated that its earnings outlook remained unchanged, after Denmark's Maersk Group had slashed its 2015 profit targets last week
Hapag-Lloyd said it would publish a supplement to the IPO prospectus issued on October 14 in due course, according to media reports.
Books were slated to close on Tuesday and trading was scheduled to start tomorrow on the Frankfurt Stock Exchange.
However demand for the shares remains subdued even after Hapag-Lloyd earlier this month trimmed its IPO by 40 per cent amid wobbly markets. It now plans to raise US$300 million instead of $500.
Hapag-Lloyd on Monday reiterated that its earnings outlook remained unchanged, after Denmark's Maersk Group had slashed its 2015 profit targets last week
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