Fonterra’s bonus share issue, flexi contracts ease pressure on farmers facing drought

Wed, 27 Feb 2013

Feb. 27 (BusinessDesk) - Fonterra Cooperative Group farmers will get some breathing space in being fully ‘shared up’ after the world's biggest dairy exporter announced a bonus issue of stock and offered more flexibility for those growing milk production. Fonterra shares, which trade on a closed market managed by the NZX, last traded at $7.17, or about 59 percent higher than the $4.52 fair value price they had before the Fonterra Shareholders’ Fund units they’re tied began trading on Nov. 30. Farmers have to hold the shares in proportion to...

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