Hapag-Lloyd cuts price range for planned share listing
BERLIN Oct 30 (Reuters) - Germany's Hapag-Lloyd said on Friday it has lowered the price range for its shares in its initial public offering, due to ongoing market volatility.
The shipping company is now offering shares at between 20 and 22 euros ($21.98-$24.18) apiece, down from a previous range of 23-29 euros.
It has also increased the amount of shares it will offer from a capital increase in order to make sure it will still achieve gross proceeds of approximately $300 million. ($1 = 0.9098 euros)
(Reporting by Victoria Bryan; Editing by Christoph Steitz)
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