Hapag-Lloyd trims IPO plans
FRANKFURT Oct 14 (Reuters) - Container shipping group Hapag-Lloyd trimmed its initial public offering (IPO) amid wobbly markets, saying it now expected to raise about $300 million from the sale of shares to investors.
The group previously said it aimed to raise $500 million in its stock market flotation to invest in new ships and containers.
It said on Wednesday it would offer investors up to 15.72 million new and existing shares at 23-29 euros apiece, which are to start trading on the stock exchange on Oct. 30. (Reporting by Maria Sheahan. Editing by Andreas Cremer.)
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