Israel Corp. planning Zim share offering

Zim's parent company issued a statement this morning to the Tel Aviv Stock Exchange saying no decisions have been made regarding the timing, location and size of an offering, which will also be dependent on market conditions and regulatory approvals.

The South China Morning Post had reported that Israel Corp. could raise $500 million from the Zim offering and has mandated Goldman Sachs and Morgan Stanley as the IPO arrangers.

According to AXS-Alphaliner, Zim is the world's 14th-largest container line operating 113 ships with a combined capacity of 289,899 TEUs with a further 41 vessels aggregating just over 290,000 TEUs on order.

The Ofer Brothers Group holds a 53 percent controlling interest of the Israel Corp.