Update: Fonterra Shareholders' Council rejects "wet shares" sales to help debt-laden farmers

Tue, 05 Apr 2016

(Updates story with FSC comment) By Fiona Rotherham April 5 (BusinessDesk) - The Fonterra Shareholders’ Council has rejected a suggestion the dairy cooperative could let farmers sell “wet shares” – the shares held based on annual milk production – as a way of providing them support at a time of low milk payout. Investment house First NZ Capital said in a research note today it would be possible to get between $300 million and $400 million of capital to farmers who need it from non-farmer investors without much change in the way the Fon...

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