It has been reported that the Amsterdam Stock Exchange could be where Unilever’s (ULVR) ice cream division’s shares are to be listed in the near future.
Unilever’s Ice Cream Shares Might Be Set for Amsterdam Launch
The spinoff from the main ULVR stock will cover the division, based in the Netherlands, that controls worldwide brands such as Ben & Jerry’s, Wall’s, and Magnum. They’ve recently hired major banks like JP Morgan and Morgan Stanley to gauge the level of interest in the market for this brand as they get set for a predicted £13bn stock market listing before 2025.
Hein Schumacher is the ULVR’s chief executive, and he has suggested that the Netherlands is currently the leading contender to be the headquarters of the new ice cream division. However, this could lead to problems among the company’s UK-based shareholders, who expressed discontent with plans to move the main offer to Rotterdam in 2018, forcing Unilever to abandon the change.
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Schumacher pointed out that ULVR shares are currently listed on the LSE, while the US is their largest ice cream market, and they’re running the ice cream business from the Netherlands. Bearing that in mind, he said:
If I follow the most likely route, then the Netherlands has a good chance.
However, he confirmed that they’ll be running the idea past the shareholders and that it also depends on the developing business environment in the Netherlands. Meanwhile, Ben & Jerry’s independent board has stated that it intends to continue its sometimes controversial social justice campaigns.
