Israel's Zim Delays IPO

Israel Corporation, the holding company which owns 98.4% of Zim Integrated Shipping Services, announced on June 16 that it has postponed its planned IPO on the Hong Kong or Tel Aviv stock exchanges due to market weakness. Israel's largest privately owned group of companies, Ofer Brothers Group, became controlling shareholder in Israel Corp in 1999. In 2004, Ofer Group-controlled Israel Corp bought the government's remaining shares in Zim.

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