M&Z plc has been admitted to the Malta Stock Exchange (MSE) after raising over €8 million in an initial public offering that was received with enthusiasm by investors.

M&Z is the first company within the fast-moving consumer goods (FMCG) sector to join the MSE.

Over the last years, it has grown significantly through a series of acquisitions, and it says that it will continue to regard this M&A strategy as a key growth driver in order to penetrate new market segments and continue strengthen its position within existing segments.

The IPO prospectus noted that it is in exploratory discussions on further potential acquisitions of brand representations.

Prior to the IPO, M&Z was 80 per cent owned by Paul Camilleri and his immediate family, with the other 20 per cent held by the Agius-Vadala family.

Following the successful IPO, which sees 26 per cent of the company being listed on the stock exchange, Mr Camilleri and his immediate family will hold 59 per cent of the ordinary shares of the company, while the combined stake of the Agius-Vadala family is reduced to 15 per cent.

Selling shareholders’ offer of 11,550,000 ordinary shares at an offer price of €0.72 was over-subscribed, with applicants receiving 72.49 per cent of the shares they applied for.

Trading in the company’s shares will begin on 14th March.

M&Z plc thanked the investing public and its partners for their support and confidence.

About M&Z

M&Z is a Mltese company specialising in the global sourcing, importation, distribution and marketing of products for the retail and catering industry. The FMCG business was established in the 1930s and today has a large portfolio of leading brands.

Based on revenues, M&Z plc ranks as one of the top thre leading food companies in Malta, employing over 140 people.