A cow bell will ring to open trading on the New Zealand share market this morning to recognise the launch of Fonterra units.
They’ve been issued at $5.50.
Question of the day: what will they sell for now?
The other question is how many have bought to trade and how many are there for the long haul?
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And those who bought to trade better remember that profit from their sales will be taxable, because IRD will, and they have the dairy sector firmly in their sights.