Dairy Giant May be About to List
NEW ZEALAND - New Zealand's largest company, Fonterra, faces one of the biggest days in its history this week as the board of directors unveils plans for a new capital structure.
12 November 2007
1 minute read
| Chairman Henry van der Hayden. |
Speculation is building that the giant dairy co-operative will consider some form of stock market listing and a split into two classes of share.
On Thursday a satellite link-up of seven meetings nationwide will see the directors unveil their preferred choice for farmers' consideration.
The aim of the restructuring is to unlock capital to enable Fonterra to take advantage of global growth opportunities, protect against farmers deciding to cash in shares and give farmers more investment options.
Chairman Henry van der Heyden has said the co-operative would be at the heart of any options considered.
Co-operatives Satara and Livestock Improvement have previously listed on the NZAX.
Source: New Zealand Herald
