Unilever's newly spun-out ice-cream division, the Magnum Ice Cream Company, was valued at €7.8billion as it began trading in Amsterdam.
Shares in the owner of Ben and Jerry’s and Cornetto opened at €12.20 on Euronext before rising to trade around a reference price of €12.80.
The group also launched secondary listings in London and New York, The Times reports.
Magnum’s valuation came in below the €15billion previously reported and under the €10.8billion estimate from Barclays analysts.
The company is the world's largest standalone ice-cream maker following the demerger, with a portfolio spanning Wall’s, Carte D’Or, Magnum, Ben & Jerry’s and Cornetto.
It now holds more than 20% of the $87billion global ice-cream market.
FTSE100
The UK's flagship share index, the FTSE 100, was down 34 points at 9,638 shortly after opening this morning.
Brent crude oil futures were down 0.097% at $62.12 a barrel.
No companies reporting today
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