Hapag-Lloyd holds firm to its 2015 outlook on eve of public listing
Time：2015-10-28
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The group, whose shares are slated to start trading on Friday on the Frankfurt Stock Exchange, said in a statement: "In response to queries received following Maersk`s update, Hapag-Lloyd reiterates its outlook for 2015 as provided in the IPO prospectus."
It continued: "Based on current trading, the EBITDA margin in September is expected to be in line with the information provided in the IPO prospectus for July and August. For the full-year 2015 the outlook remains unchanged, Hapag-Lloyd is expecting a high single-digit EBITDA margin."
According to Reuters, Hapag-Lloyd is likely to price its initial public offering (IPO) at the bottom of the price range, two people familiar with the process said.
"The final price guidance is EUR 23 a share," one of the sources said. The group had previously signalled a price range of 23-29 euros to prospective investors.
Hapag-Lloyd scaled back its IPO earlier this month 40 per following the emissions-testing scandal at Volkswagen AG and the slowdown of the Chinese economy.
The group now plans to raise $300 million in the IPO, instead of the $500 million target it announced last month.