SM Line prepares for an IPO
SM Line’s IPO is scheduled for the latter part of 2021.
Business Koreareports that Busan based transpacific carrier SM Line is preparing for an IPO, slated for the second half of 2021. NH Investment & Securities has been appointed as the lead manager on this.
The company intends to deploy funds mobilized through the IPO on growing its business operations to the Asia-US East Coast route. SM Line will invest in ships and container equipment to achieve this goal.
SM line has improved profitability by cutting costs universally, across all its divisions. Further, better recovery rates have helped the company improve its overall performance. Additionally, SM Line’s US services have been streamlined, thanks to the carrier’s engagement with 2M, the world’s biggest shipping alliance.
Commenting on the occasion, an SM Line official said “We are going to continue the surplus trend in 2021 and will promote the launch of the Korea-U.S. East Coast service in the mid-to-long-term.”
