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Israeli shipper Zim exploring IPO on foreign exchange, Globes reports

Credit: REUTERS/Amir Cohen

Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.

Adds Zim declines to comment

JERUSALEM, Aug 24 (Reuters) - Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.

A Zim spokesman said the company was not commenting.

Two options being examined are to hold the offering in London or New York, according to Globes, a financial news website, which did not cite its sources.

Zim, with a workforce of about 4,200 and which had turnover in 2019 of $3.3 billion, has hired three foreign banks to help with the IPO, which will value the shipping company at $750 million, Globes said.

Zim's shareholders include Kenon Holdings Ltd KEN.N, KEN.TA, which owns 32%. A number of financial institutions and ship owners hold the remaining 68%.

(Reporting by Ari Rabinovitch Editing by Steven Scheer)

((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))

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