Hapag-Lloyd owner delays IPO

Owners of Hapag-Lloyd have postponed a decision on floating the container shipping group, its majority owner said yesterday. “There will be no decision on an IPO (initial public offering) today,” a spokesman for the Albert Ballin consortium, which owns 50.2 per cent of Hapag-Lloyd, said citing an uncertain capital market environment. The supervisory board of TUI, which owns almost half of Hapag-Lloyd, gave the go-ahead on 3 March for a possible IPO and a person close to Hapag-Lloyd’s owners said at the time the company would list on 15 April. A listing of Hapag-Lloyd could be the biggest in Germany in more than three years and a first step in the strategic reshuffle of parent company TUI.