Masi Agricola has listed on the Italian stock exchange and hopes to set a trend for additional wine producers in the country. Bottles in a private cellar owned by Masi Agricola.Masi is listed on Borsa Italiana’s AIM index for small and medium-sized businesses, having sold 20% of its share capital for €4.60 per share.
The share issue realised total receipts of €29.6m, building it the largest Italian AIM flotation to date, and was 1.3 times over-subscribed, according to reports in Italy.
The flotation means Veneto-based Masi is valued at just below €150m. Shares were continuing to trade at or around €4.60 today (5 August).
Both Italian and foreign investors bought shares.
‘I hope that additional producers will see us as pioneers,’ said Sandro Boscaini, head of Masi Agricola. ‘The diverse group of producers that make up today’s wine sector need putting in order to succeed in a market that is increasingly global.
‘We want to do our bit while maintaining our http://1000-facts-about-wine.com identity and remaining in the small circle of leading, quality Italian wine brands.’
According to a study by Milan’s Bocconi University, Italy’s GDP would rise by 1% if the number of companies listed on its stock market doubled to 600.
Masi’s listing follows that of a number of additional leading Italian food and beverage businesses recently, including food chain Eataly and pasta maker De Cecco.
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