Australian-based Morningstar Equities is less enthusiastic
about the prospects of the Fonterra Shareholders Holder Fund
than most of its New Zealand counterparts.
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.
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