Commonwealth Bank shows hand as first foreign holder of Fonterra units

Thu, 06 Dec 2012

Dec. 7 (BusinessDesk) – Commonwealth Bank of Australia is the first overseas investors to disclose a substantial holding in units of the Fonterra Shareholders’ Fund that debuted a week ago. Funds associated with Australia’s biggest lender hold 7.4 percent of the units, according to a substantial security notice yesterday. The funds bought 6.6 million units at a grand total of some A$31 million on Nov. 30, or NZ$39 million at that day's exchange rate. Those units are now worth about NZ$47 million at yesterday’s closing price for the units of...

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