Synlait Milk sets final share price at $2.20 apiece, valuing company at $322 mln

Tue, 09 Jul 2013

July 10 (BusinessDesk) - Synlait Milk will sell shares at $2.20 apiece before joining the NZX later this month, valuing the dairy processor at $322 million and making it the 43rd biggest company on the exchange. The Rakaia-based company plans to raise $75 million of new capital, and existing shareholders will sell $38.7 million, or 17.6 million shares, in a secondary offer, listing on July 23, Synlait Milk said in a statement. Cornerstone shareholder Bright Dairy and Food won’t participate in the offer, reducing its holding to about 39 per...

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