Dairy Farms NZ encouraged to pursue IPO

Tue, 10 Sep 2019

By Paul McBeth Sept. 11 (BusinessDesk) - Dairy Farms NZ is being encouraged to pursue an initial public offering as controls on land sales depress farm prices but also restrict the firm's ability to raise funds from foreign investors. The company, which counts US billionaire Sam Zell as a cornerstone investor, was set up in 2014 as a direct investor in dairy farms and has seven properties with a peak milking herd of 6,187 cows. Dairy Farms NZ has always flagged an IPO as the eventual goal, and chair David Belcher noted in the company's an...

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