Fonterra fund gets approval for ASX delisting

Fonterra Shareholders' Fund (FSF) has received conditional approval to be removed from the official list of the Australian Securities Exchange (ASX).

The decision to seek delisting was driven by the desire to consolidate FSF's listing on one exchange, which Fonterra said would enhance liquidity in the fund's units and reduce compliance and administrative costs.

The majority of FSF's unitholders are based in New Zealand.

FSF intends to comply with the conditions set by ASX and aims to be removed from the ASX on February 27, 2025.

Unitholders who wish to sell their FSF units on the ASX are advised to do so before February 25, 2025.

After the delisting, unitholders will only be able to sell their units via the New Zealand Stock Exchange (NZX) or through off-market private transactions.

Australian unitholders will need to engage an Australian broker to facilitate the sale of units on the NZX.