MILAN, Aug 7 (Reuters) - 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 months.
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)