Magnate Bertram Rickmers’ shipping dynasty is considering going public to raise money urgently needed amid a severe downturn in the maritime industry, Handelsblatt has learned.
The high seas have always been a perilous place – but perhaps never more so than today for Rickmers, a veritable dynasty in the container shipping industry in Germany. In a bid
to raise urgently needed capital amid an ongoing crisis in the shipping sector, the Hamburg-based group is moving ahead with plans for an initial public offering, Ignace Van Meenen, chief executive of Rickmers Holding AG, told Handelsblatt. Bertram Rickmers, a fifth-generation maritime magnate who holds 100 percent of the holding company’s shares, is also on board. Rickmers set the stage for an IPO in June by completing its conversion into a stock corporation, positioning itself to follow in the wake of fellow Hamburg shipper Hapag-Lloyd, whose public shares listed in Frankfurt last month.
https://global.handelsblatt.com/edi...arkets/article/seeking-shelter-from-the-storm