Magnum Sets €12.80 Reference Price on Debut
The Magnum Ice Cream Company will enter the stock market on Monday with a €12.80 ($14.89) reference price, according to a notice released by Euronext on Friday. The listing marks the long-anticipated spin-off of Unilever’s global ice cream division, a move aimed at reshaping the consumer goods giant into a more focused, streamlined business.
Magnum’s market debut comes through a direct listing, not a traditional IPO, meaning no new shares are issued and the opening trading price will be determined solely by supply and demand. The exchange has set initial reservation thresholds at ±20% around the reference price to help limit extreme early volatility.
The spin-off was previously delayed by a month due to the U.S. government shutdown, which slowed the SEC approval process for the company’s secondary U.S. listing. Alongside its primary Euronext listing in Amsterdam, Magnum will also be traded in New York and London.
As the world’s largest standalone ice cream company, Magnum will oversee iconic brands such as Wall’s, Ben & Jerry’s, Cornetto, and its flagship Magnum line. The new entity, headquartered in Amsterdam, plans to concentrate entirely on frozen desserts—allowing more specialized innovation, supply chain management, and seasonal strategy.
Unilever will retain a 19.9% ownership stake at the time of listing but has announced plans to fully divest within five years, completing its strategic exit from the ice cream category.
