Zim triples valuation since January IPO, strong Q1 results
Boosted by the sharp rise in freight rates, 2021 has been a dream year for the Israel-based global container company.
Israel-based global container company Zim Integrated Shipping Services Ltd. (NYSE: ZIM) has nearly tripled its value since its Wall Street IPO at the end of January, when it raised $218 million at $15 per share, at a company valuation of $1.75 billion. Boosted by a 76% rise in freight rates compared with the first quarter of 2020, the company s share price rose 1.68% on the NYSE yesterday to $41.70, giving a market cap of $4.8 billion. Following publication of its first quarter financial results, Zim s share price is up a further 3.12% in premarket trading.