M&Z plc has announced that its offer for the sale of 11,550,000 ordinary shares in the company, as per a prospectus dated January 25, has been successfully completed and was oversubscribed.
The ordinary shares in the company (the sale shares) are expected to be admitted to listing on the Official List of the Malta Stock Exchange on March 11 and trading is expected to start on March 14.
Greta Camilleri, managing director at M&Z plc, said: “As our company embarks on this new chapter in its 100-year history, I would like to thank both the authorised intermediaries and investing public for their support and the confidence they have shown in M&Z.
“As a team, we are fully committed to making sure we do our utmost to continue to build M&Z as one of Malta’s leading importers and distributors of consumer products. I would also like to thank our advisers Rizzo, Farrugia & Co. (Stockbrokers) Ltd, Ganado Advocates and PricewaterhouseCoopers, for their support in this successful share offer.” From the 11,550,000 sale shares that were on offer, 4,620,000 sale shares were allocated to authorised intermediaries as set out in the pre-allocation agreements described in the prospectus.
Applications for a total of 895,000 sale shares were received from authorised intermediaries in respect of preferred applicants and these have been allocated in full in accordance with the terms of the prospectus.
Applications for a total of 8,325,200 sale shares were also received from the authorised intermediaries in respect of the remaining 6,035,000 sale shares that were left available.
In this regard, the selling shareholders have, together with the company, decided to scale down all applications for sale shares received in respect of non-preferred applicants on a pro rata basis.
Accordingly, each authorised intermediary participating in the intermediaries’ offer has been allocated 72.49 per cent of the number of sale shares applied for in respect of non-preferred applicants.
M&Z plc’s successful share offer coincides with another milestone for the company, namely its 100-year anniversary this year. The company represents many leading global FMCG manufacturers and is responsible for the importation, marketing and distribution of a vast array of renowned brands.
It operates in the categories of ambient, fresh, chilled and frozen foods, ice cream, baby and children’s care and home and personal care with brands such as Knorr, Magnum Ice Cream, Flora Spread, Quorn, Ella’s Kitchen and Vaseline among others.
Its distribution network reaches a wide customer base through various channels, including the traditional grocery stores and supermarkets, as well as a direct-to-consumer route.
CAPTIONM&Z plc, which represents a vast array of renowned brands, such as Knorr and Magnum Ice Cream, is celebrating its 100th anniversary this year.