The price of Fonterra's units is expected to rise further
next week when it joins the NZX-50, Craigs Investment
Partners broker Chris Timms says.
Sir Henry van der Heyden has signed off as chairman of dairy
giant Fonterra after a decade in the role.
Retail demand for Fonterra units remains high with the price
of units trading at $7.15 yesterday, which was up from the
$5.50 listing price.
Otago primary school children can expect to receive a free
daily serving of milk next year, as part of a national bid to
become ''the dairy nutrition capital of the world''.
Christmas has come early for Fonterra farmer shareholders
with the dairy giant lifting its 2012-13 season payout
forecast range by 25c to $5.90-$6.
Fonterra shareholders will be able to meet director
candidates during roadshows in the South tomorrow.
Demand for units in the Fonterra Shareholder Fund surged
yesterday, with $133 million worth of trading in the three
hours following the launch of Trading Among Farmers.
Fonterra units have been valued at the top of the range at
$5.50 each but demand is expected to push them up even
further when trading begins on the NZX on Friday.
Many farmer shareholders seem to be taking a "wait and see"
approach before selling economic rights of shares into the
Fonterra Shareholders Fund, the dairy co-operative says.
Fonterra's newly-acquired milk-processing plant at Studholme,
near Waimate, has already broken a record - producing 924
metric tonnes of whole milk powder in a week.
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