Hapag-Lloyd has launched an equity stock offering to raise 352 million euros ($414 million) as part of the financing of its 4.45 billion euros acquisition of UASC. The stock issuance was always planned, though the discount to the prior closing stock price of 18% is surprising. The timing makes sense though – the stock hit its highest since the IPO on September 22. The transaction does not make a material difference to the company’s debt ratios. The ratio of debt to capital (debt plus equity) falls to 50% from 53%. The container-line sector on average had a ratio of 49% at the end of the ...