Shares in food group Aryzta traded in Dublin

Trading of shares in Aryzta – the company formed from the merger of food group IAWS and Swiss rival Hiestand – began in Dublin this morning.

Hiestand holding shareholders approved a plan to merge with IAWS to create the world's biggest maker of frozen baked goods earlier this week.

Shareholders representing 91.3 per cent of votes at a meeting were in favour of the merger, the company said.

IAWS, which already has a 64 per cent stake in Hiestand, own 83.3 per cent of the new baker, Aryzta, and Hiestand will have 8.7 per cent.

Aryzta will also be listed on the Zurich stock exchange.