Trading Among Farmers reality at last

Trading Among Farmers is reality at last, writes agribusiness commentator Allan Barber in his latest blog post. Although a dairy topic, it’s an interesting read.

The day when outside investors can apply for units in the Fonterra Shareholders Fund to be listed on the NZX and ASX has arrived at last. Getting to this point has been a long and tortuous process during which Fonterra has consulted its members, finally gaining the required majority vote in favour of establishing Trading Among Farmers (TAF).

TAF will enable those Fonterra’s shareholders that wish to free up some capital to deposit shares in the fund, provided they retain enough shares to match their milk supply. These shares can either be bought by other shareholders who would like to increase their shareholding or exchanged for the units with rights to dividends and share price value changes.

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