Unilever's ice cream spinoff Magnum valued at €7.8bn in debut 

The company spun off from Unilever is debuting a month later than initially planned due to US shutdown

Peter ter Kulve, CEO of The Magnum Ice Cream Company, and his team rang the bell during a ceremony on Monday morning to celebrate the listing of The Magnum Ice Cream Company on the Euronext in Amsterdam. Picture via Euronext

Unilever Plc’s spinoff The Magnum Ice Cream Co. was valued at €7.8bn in its market debut on Monday, after a separation aimed at giving the world’s biggest ice cream company a platform to revive its performance as a standalone firm.

Magnum shares opened at €12.20 in Amsterdam on Monday, before rising to trade slightly above the technical reference price of €12.80. Shares also opened in London, and were set to start trading in New York later Monday as part of the triple listing. The reference price is a figure calculated by Magnum and Unilever’s advisers that was used as a indicative price ahead of the start of trading.