Synlait equity raise: Bright Dairy to take control, minority investors left out

Synlait equity raise: Bright Dairy to take control, minority investors left out
Synlait’s largest shareholder will increase its ownership to a controlling stake. (Image: NZME)
Riley Kennedy
Synlait’s largest shareholder will increase its ownership to a controlling stake in the embattled dairy processor if its planned equity raise gets approval.The dual-listed dairy company announced the details of its $217.8 million raise after the NZX closed on Tuesday, with minority investors left out.It also said it was in the final stages of refinancing its banking facilities.Bright Dairy, which currently has a 39% stake, will contribute $185m at an issue price of 60c – a 100% premium on Synlait’s closing price on Aug 15.This...

More Primary Sector

Why Fonterra wants to churn out more butter
Primary Sector

Why Fonterra wants to churn out more butter

Other dairy processors have also invested in it.

Riley Kennedy 23 Oct 2025
Agritech is NZ’s future, if it acts quickly enough: BCG report
Primary Sector

Agritech is NZ’s future, if it acts quickly enough: BCG report

NZ is still ‘navel-gazing’ about its economic future.

Greg Hurrell 23 Oct 2025
Bioenergy policy points to obstacles to reach scale
Primary Sector

Bioenergy policy points to obstacles to reach scale

Wood energy could replace around 40% of fossil-fuelled process heat by 2050.

Ian Llewellyn 22 Oct 2025
More butter, more value: Fonterra’s $75m move to expand production
Primary Sector

More butter, more value: Fonterra’s $75m move to expand production

Fonterra Co-operative Group will invest $75 million to expand butter production at its Clandeboye site in South Canterbury.The move is part of the next phase of strategic investments by the co-op, signalled in its annual result.At the time, chief executive Miles Hurrell said the...

Staff reporters 22 Oct 2025