Drooms supports Hapag-Lloyd IPO with virtual data room
10. December 2015
Liner shipping company Hapag-Lloyd AG has ventured on to the Frankfurt stock exchange. Secure cloud provider Drooms provided support for the IPO with its virtual data room solution. Proceeds from the IPO amounting to USD 300 million will allow the company to acquire ships and containers. The Drooms virtual communications platform facilitates the secure and efficient exchange of documents and information during the due diligence stage of the IPO. All stakeholders (issuer, consultants, auditors and investment banks) can access transaction-relevant data at any time throughout the IPO process.
Hapag-Lloyd and Drooms have already worked closely in the past: the Drooms data room solution was used during the merger of Hapag-Lloyd and Chilean Compañía Sud Americana de Vapores (CSAV) in December 2014 which created the world’s fourth-largest shipping company.
By using a secure virtual data room, the issuing company retains the necessary full control of documents and information by assigning different permission levels for individual users and recording a detailed log of all data room activities. The authorised user groups can securely access all documents at all times, irrespective of their location. In addition to this level of administrative control, priority is given to data protection, as proven by Drooms’ Europe-based, ISO-certified server facilities and encrypted data transmission and storage.
Drooms has provided secure, transparent and efficient support for several thousand complex transactions, such as IPOs, M&A transactions and commercial property sales. As the leading European provider of secure cloud solutions, the total value of transactions facilitated by Drooms to date amounts to more than EUR 200 billion.
With a fleet of 175 modern container ships, Hapag-Lloyd is a leading global liner shipping company. The company employs approximately 10,000 staff at 353 locations in 117 countries. After the merger with CSAV's container business in December 2014 Hapag-Lloyd offers a fleet with a total capacity approaching one million standard containers (TEU) as well as a container stock of 1.6 million TEU. In total, this amounts to the world’s fourth-largest fleet of refrigerated containers. A global network of 122 liner services guarantees fast and reliable connections between all continents. Hapag-Lloyd is a founding member of the G6 Alliance, one of the largest shipping alliances in the world, and is among the leading providers for transatlantic and Latin American routes.