ZIM celebrates its historic NYSE IPO

A glorious Mediterranean sunset greeted the guests of ZIM’s historic IPO celebration at the residence of ZIM’s major shareholder, Idan Ofer, on the seashore in Arsuf, near Tel Aviv.

Many other guests joined virtually, including heads of international banks, financial institutions, law firms and others who took part in the hard-won IPO, recently ranked one of the best performing IPOs of 2021 by Barron’s.

ZIM completed the IPO on the New York Stock Exchange at a value of $1.5 billion in January. Since then, ZIM shares have soared, and the company’s value is now estimated at above 5 billion dollars. ZIM posted a net profit of $590 million in the first quarter of 2021.

Stacey Cunningham, President of NYSE, spoke to the guests via Zoom, congratulated ZIM for the successful IPO, the remarkable recent results and the stock’s performance, saying: “2020 and 2021 were unprecedented in the history of the New York Stock Exchange. I am proud to note ZIM’s IPO is considered the second most successful globally this year, according to the prestigious BARRON’S magazine...It’s companies like ZIM, with their special vitality and energy, that bring great joy to our work.”

Idan Ofer, ZIM’s major shareholder, talked about the fraught history of ZIM and his involvement in past restructuring efforts. He also mentioned, on a personal note, the longstanding links of ZIM with the Ofer Group and particularly his late father, Sammy Ofer, and his contribution to the company. He thanked Eli Glickman for his leadership and vision.

ZIM President & CEO Eli Glickman said in his speech: “Idan was the only person who believed in ZIM even during the hardest times. He did not give up even when many others raised their hands. He inspired me.” In a surprising announcement, Glickman told Idan Ofer and the guests that ZIM has decided to name the first of the 10 new 15,000 TEU LNG ships “ZIM SAMMY OFER”. The ships, due to be delivered in 2023, are chartered from Seaspan, whose CEO, Mr. Bing Chen, was also among the guests.

One of ZIM’s vessels, the CS ZIM Monaco, joined the event, anchoring nearby, adding another unique touch to the exciting event. “Only Eli Glickman and the ZIM team can accomplish such an extraordinary operation, “ remarked one of the guests.