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Fonterra's TAF (trading among farmers) is underway.
And within minutes, the selling price of Fonterra share units rose 21% to $6.66.
Shareholder Philip van der Bijl rang a specially crafted bell to launch the share trading scheme at its new Darfield site at midday. About 100 farmers and Fonterra staff witnessed the launch.
Fonterra chairman John Wilson says it has taken time to launch TAF that will entrench 100% ownership and control.
"We have paced the introduction of changes that will give farmer shareholders more flexibility to maage their businesses and Fonterra shareholdings."
"We have taken our own time to reach this point in our history."
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
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Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
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