Wednesday, 26 June 2024 11:25

Synlait slump

Written by  Milking It
Synlait slump

OPINION: Synlait's woes continue to drag the company down. The listed milk processor’s share price dropped to an all-time low of 30c last week, valuing the company at around only $65 million, a huge slump from its peak value.

Over the past year alone, the share price has lost 82% of its value, leaving the troubled company with a market capitalisation of only $65m.

There are only two options for Synlait. Either it has to sell assets or it has to raise more share capital.

But no one wants to buy its $400m under-utilised Pokeno plant and not too many shareholders are keen for a capital raise either. Something has to give.

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