Laurels for ZIM's IPO
Carrier ZIM held its IPO celebration at the residence of ZIM’s major shareholder, Idan Ofer, on the seashore in Arsuf, near Tel Aviv. Many other guests joined virtually, including heads of international banks, financial institutions, law firms and others who took part in the hard-won IPO.
ZIM completed the IPO on the New York stock exchange at a value of USD 1.5 billion in January. Since then, ZIM shares have soared, and the company’s value is now estimated at above USD 5 billion. The carrier posted a net profit of USD 590 million in Q1/2021.
Stacey Cunningham, president of NYSE, spoke to the guests via zoom, congratulated ZIM for the successful IPO, the remarkable recent results and the stock’s performance, saying: “I am proud to note ZIM’s IPO is considered the second most successful globally this year.”
Idan Ofer, ZIM’s major shareholder, talked about ZIM's eventful history and his involvement in past restructuring efforts. (cd)