S&C Advises Underwriters in IPO of Israel’s ZIM

February 10, 2021

ZIM Integrated Shipping Services Ltd. completed its U.S.-registered initial public offering on February 1, raising $217.5 million and becoming just the second shipping liner listed on the U.S. stock market.
S&C represented the underwriters, led by Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Barclays Capital Inc. Jefferies LLC and Clarksons Platou Securities Inc. acted as joint bookrunners.
ZIM provides container shipping and related services. The company offers dry, reefer, project, out-of-gauge, breakbulk and dangerous cargo services; inland transport services; and ZIMonitor, an application that provides containers' information. The company was founded in 1945 and is headquartered in Haifa, Israel. Last October, S&C helped ZIM retire $54 million of its notes through a modified Dutch auction.

The S&C team included Robert Downes, John Horsfield-Bradbury, European counsel Abi Yevnin and associate Kirsten Rodger. Eric Wang and special counsel Saul Brander advised on tax matters. Special counsel Tracey Russell advised on FINRA-related matters and Vanessa Blackmore advised on EU regulatory issues.