JERUSALEM, Oct 8 (Reuters) - Bank of America Merrill Lynch and Barclays Plc will lead an initial publicoffering of Israeli shipping firm Zim on Wall Street next year,two sources familiar with the matter said on Thursday.
One source said no date or valuation have been set but theoffering will be in New York, likely on the New York StockExchange.
Barclays and Bank of America Merrill Lynch officialsdeclined to comment.
Zim, the world's 17th largest shipping line, is a unit ofKenon Holdings, controlled by billionaire Idan Ofer. AKenon spokeswoman declined to comment.
Its shares, in which 29 percent are floated, were up 4.3percent in Tel Aviv.
Zim said in an emailed response that it "has beencontemplating going public and other financing options since2007. This strategy has not changed. We have nothing to reportat this time and do not comment on rumours".
Like many others in the shipping industry, Zim had been hithard by sluggish trade in recent years and has also borne thecost of upgrading its fleet to more efficient vessels.
Last year, Zim restructured $3 billion of its debt in whichcreditors took over 68 percent of the company and committed totake the company public.
In the second quarter, Zim posted an adjusted net profit of$23 million, compared with a net loss of $50 million a yearearlier. (Reporting by Steven Scheer and Tova Cohen; editing by AdrianCroft)