New Zealand's Synlait Milk Ltd. planned a share sell off and an IPO to raise a total of NZ$120 million making it end the majority stake held by China's Bright Dairy.
Tags: New Zealand
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New Zealand's sale of Meridian Energy may be the largest IPO of a company in the country. State owned power company Meridian Energy's 49% would be offered to an initial public offer of its shares by the third quarter of the year.
Synalit Milk is now preparing for a possible IPO to fund its expansion plans in China. New Zealand dairy company Synlait Milk Ltd is planning to conduct an initial public offer of shares to fund its expansion plans into the booming infant formula market in China.
The New Zealand government is divesting its interests in private companies in order to curb costs and trim debt.
