FrieslandCampina is one of the largest dairy cooperatives in the world and an existing customer of Synlait Milk.
Synlait Milk chairman Graeme Milne said this investment from FrieslandCampina, as part of the bookbuild to institutional investors and NZX Firms, is an endorsement of Synlait Milk’s operations and growth ambitions.
“Our working relationship with FrieslandCampina has developed over the years and they have become a valued customer,” he said. “We view their investment as a positive endorsement of the growth opportunities we see for Synlait Milk in the coming years.”
On 10 July 2013, Synlait Milk announced it had set a final price of $2.20 per ordinary share. At the final price, Synlait Milk will have a market capitalisation of approximately NZ$322m on completion of the IPO.
Bright Dairy and Food Co Ltd will hold approximately 39.1% shareholding in Synlait Milk, and Mitsui & Co Limited and Mitsui & Co (Australia) Limited will together hold approximately 8.4% shareholding in Synlait Milk following completion of the IPO.
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