Shipping group Hapag-Lloyd to raise $500 mln in float

Container shipping group Hapag-Lloyd is planning to raise $500 million in a stock market flotation, the company said on Monday, joining a swathe of initial public offerings in Germany. The world's fourth largest container liner is planning to sell new shares worth $400 million, while two existing shareholders, Kuehne Maritime and CSAV are placing cornerstone orders of $50 million each. "This move will give us better access to the capital markets which will enable us to further invest in our busi