Masi joins Italian stock market

Masi Agricola has become the first “premium” Italian wine producer to be listed on the Italian stock market.

The move comes with the backing of the Italian government which is pushing for more food and beverage companies to list following a report by Milan’s Bocconi University which showed that doubling the stock market to 600 would boost Italy’s gross domestic product by 1%.

Shares in Masi are now officially trading in the Italian AIM market, a section of the Bourse dedicated to small and medium sized businesses which make up the backbone of the Italian economy.

The launch was the biggest operation yet completed on AIM, with Masi offering 20% of its shares mostly through a capital increase at €4.60 each, giving the company a value of €150 million.

Sandro Boscaini, head of Masi Agricola, commented “We are delighted to be the first listed wine producer in Italy, indeed one of the first in Europe. I hope that other producers will see us as pioneers: the diverse group of producers that make up today’s wine sector need putting in order to succeed in a market that is increasingly global.

“We want to do our bit while maintaining our identity and remaining in the small circle of leading, quality Italian wine brands. Developing a close and respectful relationship with nature, producing meaningful wines and maintaining a culture of terroir are values that remain at the heart of our endeavours.”