New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Synlait Milk (SML) has announced a ~NZ$218m equity raise, primarily to repay its retail bonds (NZ$180m) which are due to mature on 17 December 2024.</li><li>The equity raise is a direct placement to: (1) Bright Dairy (BD) of ~NZ$185m at NZ$0.60 per share (~308m new shares issued), and (2) The a2 Milk Company (ATM) of ~NZ$33m at NZ$0.43 per share (~76m new shares issued). Shareholders will be asked to vote at a Special Shareholders Meeting on 18 September 2024 on: (1) the ordinary resolutions in relation to the placements (ATM and BD), and (2) a special resolution relating to the amendment of the constitution, given BD's shareholding will be &gt;50% if passed.</li><li>The ordinary resolutions are inter-conditional, such that if one resolution isn't passed, neither of the resolutions will be implemented. </li></ul>

Synlait Milk (SML) has announced a ~NZ$218m equity raise, primarily to repay its retail bonds (NZ$180m) which are due to mature on 17 December 2024.The equity raise is a direct placement to: (1) Bright Dairy (BD) of ~NZ$185m at NZ$0.60 per share (~308m new shares issued), and (2) The a2 Milk Company (ATM) of ~NZ$33m at NZ$0.43 per share (~76m new shares issued). Shareholders will be asked to vote at a Special Shareholders Meeting on 18 September 2024 on: (1) the ordinary resolutions in relation to the placements (ATM and BD), and (2) a special resolution relating to the amendment of the constitution, given BD's shareholding will be &gt;50% if passed.The ordinary resolutions are inter-conditional, such that if one resolution isn't passed, neither of the resolutions will be implemented. 

Synlait Milk

Synlait Milk - NZ$218m Equity Raise