CEVA Logistics has begun trading its shares on the SIX Swiss Exchange in Zurich.

According to the logistics company, the aim was to raise CHF1.2 billion (US$1.2 billion) through the all-primary IPO to strengthen the balance sheet, unlocking additional growth potential with existing and new customers.

“We are proud to open this new chapter for CEVA which builds on the transformation that the company has undergone over the last four years,” said Xavier Urbain [right in photo], CEO of CEVA Logistics. “CEVA has successfully repositioned itself among the top third party logistics providers through its global presence, end-to-end service offering in contract logistics and freight forwarding, its balanced blue-chip customer portfolio and its strong solution capabilities.”

As part of the IPO, French shipping group CMA CGM has acquired a stake of almost 25% in CEVA Logistics.

“Having CMA CGM on board as a shareholder is a sign of confidence and opens up new perspectives for us in the development of complementary services that meet the growing customer demand for integrated end-to-end solutions and one-stop-shop providers,” said Urbain. “Our current relationships with customers, carriers and other business partners will remain unchanged. Our management and 56,000 employees are fully committed to delivering on our strategy, to accelerate growth and to enhance profitability – in order to sustainably create value for our customers and shareholders.”