Non-farmers Get Look In

“The only truly global New Zealand company, with annual revenue of almost $20 billion, Fonterra operates in 100 countries and has 10,500 farmer-owners,” The Economist writes. “Rabobank of the Netherlands ranks it the world’s fourth-largest dairy company. So the company’s announcement last month that it would let non-farmer investors buy in for the first time has stirred great interest, among both investors on the country’s modest stockmarket and foreign fund managers. Fonterra intends to raise at least $500 million with the issue, whose price will be announced on 27 November. Fonterra will also start letting its farmer-owners trade their shares among themselves.”