Zim postpones stock offering

Zim Integrated Shipping Services has decided to postpone plans for a public stock offering.

A letter to the Tel-Aviv Stock Exchange posted on the Israel Corp. Web site reports that Zim plans to continue implementation of an expansion and supplying plan, and will raise $250 million through a rights offering by shareholders.

Israel Corp., which owns 98 percent of Zim, said terms of rights offering are to be determined by Zim in the coming days.

Source:Americanshipper