Fonterra units stag 22 percent on debut, farmers less enthusiastic

Fri, 30 Nov 2012

by Jonathan Underhill Nov. 30 (BusinessDesk) - Nov. 30 (BusinessDesk) - Fonterra Shareholders' Fund units soared as much as 22 percent on their NZX debut as investors leapt at the chance to get access to the dairy exporters' earnings stream, though no farmers used the scheme to trade their own shares. The units jumped as high as $6.71 from the $5.50 offer price set in this week's book-build in a flurry of trading. The price settled back to $6.60, with 12.6 million units, or about 13 percent of the fund, changing hands. "Today we have perm...

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