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Primary Sector

LIC seeks market maker to spark share trading

Brent Melville
Thu, 15 Oct 2020

Brent Melville
Thu, 15 Oct 2020
Livestock Improvement Corporation shareholders have signed off on the appointment of ‘market makers’ to help stimulate share trading and better price stability for the dairy cooperative’s moribund shares.LIC shares, which have dropped 9.4 percent over the past year to 77 cents, are one of the least liquid shares on the NZX. The firm’s independent adviser Northington Partners pins the blame on the ownership restriction to LIC dairy farm customers and a 5 percent ownership cap.The firm’s shareholders also voted to ov...

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