HHLA has successful IPO
HHLA, the Hamburg port operator, has floated 30% of its equity and raised ¢ 1.17bn ($1.7bn), which will go towards funding expansion.
In early trading, the share price jumped 17% to ¢62.10 ($91) after shares were sold for ¢53 ($78). Institutional investors bought the majority of the shares, with 20% snapped up by private investors and HHLA staff; no single individual investor was allowed to obtain a stake that would allow it to block decisions.
Lead managers for the float were JP Morgan and Citigroup.
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