LIC gets a discount

Fri, 03 Apr 2020

Livestock Improvement Corporations investment in Israeli dairy tech firm, Afimilk, just got cheaper as the New Zealand dollar has risen against the US dollar, now trading at 59.2 cents. This has cut $5 million dollars from the actual purchase price, bring it to $118.3. The company said in a statement the exchange rate will continue to change ahead of the special meeting on April , and hedging contract will be put in place if shareholders approve the transaction.

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