Fonterra to sell up to $525M of units at indicative price of $4.60-$5.50, accounting for 7 percent of shares

Thu, 25 Oct 2012

Oct 26 (BusinessDesk) - The Fonterra Shareholders’ Fund will raise as much as $525 million selling shares in an indicative price range of $4.60 to $5.50 apiece, giving outside investors exposure to up to 7 percent of the dairy cooperative’s equity, offer documents show. The final price will be set by a bookbuild among institutions and NZX firms on about Nov. 27. Fonterra unveiled the prospectus for the fund aimed at providing liquidity for the Trading Among Shareholders scheme, one of the biggest overhauls of the dairy giant’s capital struc...

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