Zim Integrated Shipping Services gathered this week to celebrate the company’s successful IPO on the New York Stock Exchange at the beginning of the year.
In January, the company raised $218 million on the NYSE, selling 14,500,000 ordinary shares at $15 each for a company valuation of $1.75 billion. The stock has since nearly tripled, trading at $43.79 as of the beginning of trading Thursday, and the company raised another $279 million in a secondary NYSE offering earlier this month.
The company, which was on the verge of collapse just a few years ago, underwent a dramatic upheaval under the leadership of CEO Eli Glickman, leading to impressive changes in the company’s performance.
The event took place at the home of Zim’s large shareholder, Idan Ofer, in Arsuf, near Caesarea, where Ofer and his wife hosted Glickman, company executives and business leaders for dinner and a celebration. Hundreds more attended via Zoom.
Glickman told attendees that Zim’s market value had just surpassed $5 billion, on the same day as ZIM marked its 76th anniversary.
During the event, Glickman spoke via Zoom with the president of the NYSE, Stacey Cunningham.
“2020 and 2021 were years with unprecedented issues in the history of the New York Stock Exchange,” Cunningham said. “I am proud to note with you that ZIM was the second most successful of all IPOs held this year in the world, according to Barron’s magazine.”
Glickman announced that one of the new “green” ships purchased by Zim would be named “Zim - Sami Ofer,” after the late businessman and father of Idan, who was a major shareholder in the company.