Swiss-Irish baked goods group Aryzta has announced a strategic review of the company on foot of another slump in its market valuation. The move comes as Aryzta shares fell to another record low of 33 cents in Dublin on Wednesday and to 0.35 Swiss francs in Zurich, leaving the company with a market value of €350 million. A spokesman said the review was initiated by the board with external input to address the decline in shareholder value. Only in this way can Aryzta create value for all stakeholders again.”Between them the two groups control around 17 per cent of the stock. They said they believe that the company is trading at a significant discount to its intrinsic value and, despite a capital increase in 2018, the company’s market valuation decreased significantly compared to the overall market.

Source: The Irish Times May 13, 2020 09:58 UTC