German port operator Hamburger Hafen und Logistik AG (HHLA) is planning massive expansion after completing its initial public offering (IPO), which is expected to generate between US$1.28 billion and $1.57 billion in proceeds.

By 2012, HHLA's capacities in the city-state of Hamburg will be doubled, CEO Klaus-Dieter Peters said.

The port operator is also examining potential acquisitions and takeovers of peers in the Baltic Sea, northern Adriatic Sea and Black Sea areas, Peters added.

Such acquisitions should fit into the current structure of the company, which is why no deals would be made in the Far East or Latin America. The infrastructure of the fast growing port will also be expanded.

In terms of expected proceeds, HHLA's IPO will be the biggest one in Germany in the second half of 2007. It will be outdone, however, by the public offering of Dubai-based government-owned marine terminal operator DP World, the world's fourth largest port operator, which is expected to raise $4 billion in proceeds.