Israel's Zim Integrated Shipping Services is planning to launch an initial public offering in Hong Kong this year through a US$500 million share sale, reported the South China Morning Post, citing an unidentified person familiar with the deal.
This would mark the first listing in Hong Kong by an Israeli company since a road show by Hong Kong Exchanges and Clearing (HKEx) officials in the Middle East last year to attract more Middle Eastern investment in the city.
US investment banking heavy weights Goldman Sachs and Morgan Stanley have been mandated to handle the share sale, the report said.
"They filed their preliminary listing application with the HKEx recently while the final decision of the size is still under discussion," a source close to the deal was cited as saying.
"The listing is likely to take place in the second half of the year."
ZIM operates 100 vessels with a capacity of 240,000 TEU. The company recently bought eight 1,700-TEU containerships and two 2,500-TEU vessels to support services provided by its larger ships.