Fonterra to move Shareholders' Market to NZX Main Board

Fonterra has announced its intention to move its Shareholders' Market from a private market operated by NZX to the NZX Main Board in January 2025.

The company said this decision opens a pathway for other co-operatives to list on the Main Board and highlights NZX's ability to offer a market accessible to various corporate structures.

NZX confirmed that this move will have no impact on its earnings guidance for the 2024 financial year.

However, it may affect the company's earnings guidance for the 2025 financial year, with any potential impact dependent on factors such as Fonterra's underlying performance, trading revenue on the Main Board, and cost savings initiatives.

NZX will release its guidance for the 2025 financial year in February 2025.