Magnum IPO on hold due to US government shutdown

The spin-off of Unilever‘s ice cream division, renamed The Magnum Ice Cream Company (TMICC), is being delayed due to the US government shutdown. Nevertheless, the FMCG giant still hopes to go public this year.

Delay due to US

Due to the ongoing shutdown in the US, the US Securities and Exchange Commission (SEC) is unable to issue a registration statement. As a result, the IPO, which was scheduled to take place in New York and Amsterdam on 10 November, cannot go ahead.