ZIM delays IPO and its CEO resigns
Zim Integrated Shipping Services Ltd. has announced that Rafi Danieli is resigning from his role as CEO. The announcement comes three days after an Israeli newspaper claimed that the carrier delayed an initial public offering (IPO) on Wall Street reportedly planned for the first half of 2016.
Haaretz claimed that the company delayed a planned IPO amid slowing market conditions and discouraged by the “unsuccessful” offering in November 2015 of German carrier Hapag-Lloyd, which delayed its IPO twice before reducing the offer price and number of shares.
ZIM, which reportedly neither formally announced nor denied its IPO plans, said that Danieli will continue to serve in his role until a new CEO is appointed.
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