Magnum Ice Cream worth billions in stock market debut
How you can taste a share of popular ice cream
- Magnum Ice Cream Company made its stock market debut in Amsterdam, London, and New York on Monday, following its spinoff from consumer goods giant Unilever.
- Shares began trading at €12.96, valuing the company at €7.93 billion ($9.24 billion), establishing it as the world's largest standalone ice cream business.
- Unilever divested the unit due to the complex operational demands of its cold supply chain, which differs significantly from its other food and personal care brands.
- Magnum aims to leverage its singular focus on ice cream to enhance productivity, though it cautioned about potential early downward pressure on its stock.
- The company faces challenges including investor appetite for sugar-heavy products amid health trends and a strained relationship with Ben & Jerry's, whose foundation requires improved financial controls.