How Synlait has gone from cream of the crop to skimming the edge of survival

The company's special meeting will be held at its Dunsandel site on Wednesday. (Image: Supplied)

Mon, 16 Sep 2024

Over the span of eight years, New Zealand Exchange-listed dairy manufacturer Synlait has gone from share price highs of $13.50 to lows of around 23 cents and from winning coveted awards to facing its current uncertain future. How did it end up in this position?Shareholders will gather at Synlait's Dunsandel site on Wednesday to vote on a proposed $218 million capital raise from its two largest shareholders, Bright Dairy and The a2 Milk Company, to allow the company to deleverage its debt-laden balance sheet.It is unlikely to fail, given it...

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