Opposition to Fonterra plans

New Zealand-based Fonterra’s plans to restructure the cooperative’s capital structure and float stocks on the market face opposition from major dairy industry players.

Fonterra Shareholders’ Council chairman Blue Read has said that half of about 2500 farmers with whom the council had discussed the preferred capital structure objected.
Under the plan the co-operative would maintain 65% of the shares, 15% would be offered to individual farmers and 20% to the public with no one shareholder, except for the co-operative, allowed to hold more than 10%.