Farsons spin-off company Quinco Holdings has been admitted to the Malta Stock Exchange.
Quinco incorporates the food business formerly forming part of the Farsons Group, namely Food Chain Limited and Quintano Foods Limited.
The company was listed on the MSE on October 6 at a share price of €1.30. Farsons shareholders received a pro-rata dividend totally €46 million based on that share price as part of the operation.
Farsons had first announced its intention to split its food division into a separate entity in November 2024. The company’s chief executive, Norman Aquilina, was announced as Quinco’s first executive chairman last month.
Aquilina rang the bell at the MSE to celebrate Quinco’s listing.
“Apart from driving shareholder value, our listing on The Malta Stock Exchange represents a powerful statement of our commitment and ambitions, symbolising our intent on scaling up and reaching higher heights. It’s also a reflection of our vision as we firmly believe that through this spin-off, we are now better placed to strategically focus and unlock the full potential of our food business whilst paving the way for new opportunities,” Aquilina said.
Simonds Farsons Cisk plc chairman Louis Farrugia said the spin-off would allow the company to maximise efficiencies in growing its food business.
“We experienced the benefits of a similar decision when Trident Estates plc was spun off from Simonds Farsons Cisk plc in 2018,” he noted.