CMA CGM in no rush to list shares

[PARIS] CMA CGM, the world's third-largest container shipper, is continuing to study the option of listing shares but any move would not be this year, the French group's chief financial officer said on Monday.

The family-owned group had said in late 2012 that it planned to list shares by the end of 2014 in an attempt to improve its access to financing in the face of volatile freight prices.

CMA CGM has since been through a financial restructuring that saw French sovereign fund FSI inject US$150 million and the group sell a stake in a port terminal operator for 400 million euros (S$695 million), helping it secure better credit ratings and reduce debt.