MILAN Aug 7 Italian coffee maker Massimo
Zanetti Beverage Group (MZB) has filed for a listing on the
Milan stock exchange, as it presses ahead with plans to sell a
stake, undeterred by market volatility which led two other
companies to scrap IPO plans.
MZB, which produces 120,000 tonnes of coffee a year, plans
to list a 30 percent stake in October, to raise cash for
acquisitions and help keep the family-owned group independent.
The owner of the Segafredo Zanetti and Puccino's brands has
presented its listing request to Italy's main bourse and asked
the market regulator to approve its prospectus for the deal, the
company said in a statement published on Thursday.
MZB has not been put off from listing despite three
cautionary tales in the Italian equities market in recent
Drug maker Rottapharm and gaming group Sisal called off
planned IPOs blaming poor demand and market volatility, and
Italy's government cut the size of a stake it put up for sale in
state-owned shipbuilder Fincantieri.
MZB has hired Banca IMI and BNP Paribas
as global coordinators for its listing.
(Reporting by Isla Binnie, editing by William Hardy)