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Fonterra to review capital structure, trading in shares halted

Published 05/05/2021, 07:49 am
Updated 05/05/2021, 09:12 am
© Reuters.
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May 5 (Reuters) - New Zealand dairy company Fonterra FCG.NZ will seek feedback from shareholders on changes to its capital structure and its shares were halted for trading ahead of the announcement on Thursday.

The company said on Wednesday its financial position remained strong and the process would not impact its operations.

Fonterra plans to make the announcement before the market opens on Thursday and will "seek shareholder feedback on potential options to change its capital structure."

Trading on its shares in New Zealand and Australia will remain halted until Friday, the company said, to provide shareholders time to review the options.

Fonterra was formed in 2001 through a merger of two of New Zealand's largest dairy co-operatives and remains largely owned by its more than 10,000 farmers.

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