Business Desk – Synlait Milk jumped 19 percent in its NZX debut after raising $75 million in an initial public offering that was restricted to clients of brokers and institutional investors.
The shares first traded at $2.62 compared with the IPO price of $2.20. They were last at $2.75, valuing the company at $402 million.
Synlait Milk will use the $75 million raised to repay debt and help fund construction of a new lactoferrin extraction and purification facility, an on-site blending and consumer packaging plant, a new dry store, a quality testing laboratory, a butter plant, and a new spray dryer, according to the prospectus. Existing shareholders took advantage of the sale to sell down their own holdings, raising $38.7 million. . .
Westland Milk Products’ launch of its new Westpro NutritionTM range in China on Thursday last week (19 July) was well received with strong interest from customers and Chinese media.
The official launch of Westland’s range of infant nutrition base powders was part of a week-long visit to Shanghai by the company to demonstrate Westland’s commitment to the China market, raise awareness of the Westland Milk Products brand and to promote Westpro Nutrition. . .
International student exchanges opportunity of a lifetime – Pasture to Profit:
International Agricultural Student Exchanges offer an opportunity of a life time experience, few will ever forget. Exchange to another country, another University with a mix of exchangees from many different nations provides endless excitement, friendships & cultural appreciation at an age when you can “suck it all in” big time. I’d like to encourage many more agricultural students to apply for exchanges.
Entries for the 2014 Ballance Farm Environment Awards open on August 1, 2013, and organisers are again expecting strong interest in the popular competition.
Facilitated by the New Zealand Farm Environment Trust (NZFE), the awards promote sustainable land management by showcasing the work of people farming in a way that is environmentally, economically and socially sustainable.
Held in nine regions, the awards are open to all farming and horticultural types. . .
Racing Minister Nathan Guy today announced the appointment of Glenda Hughes as Independent Chairperson of the New Zealand Racing Board’s (NZRB’s) governing body.
Ms Hughes was appointed as Independent Chairperson following consultation with the racing industry.
The racing industry makes an important contribution to the New Zealand economy, generating around $1.6 billion annually and around 17000 jobs. . .
Registrations are now open for ‘Mai i te ngahere oranga – Māori Forestry Forum’ to be held at Waiariki Institute of Technology in Rotorua on Friday 16 August.
With $2 billion in forestry assets that include land, trees and energy options, Māori are set to become key stakeholders in the future of forestry.
This inaugural Māori Forestry Forum will provide a platform for Māori land and forest owners to discuss their experiences, issues and aspirations for Māori forestry in Aotearoa. . .