The chart looked better 2day when the Otago Daily Times and the NZ Herald started singing the praises of the Synlait stake.
See below:
www.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=11812843
A2 buys 8.2% stake in Synlait
2:30 PM Monday Mar 6, 2017
A2 Milk Co has bought an 8.2% stake in Synlait Milk.
A2 Milk Co has bought an 8.2% stake in Synlait Milk at a small premium, building on an existing supply agreement between the milk marketer and dairy processor.
Sydney-headquartered a2 bought 14.6 million shares at $3.275 apiece from Dutch dairy processor Royal FrieslandCampina, a 5.6% premium to Thursday's closing price of $3.10 and a 3% premium to the one-month volume weighted average price.
The Dutch company, which counts Fonterra Co-operative boss Theo Spierings as alumni, took a stake in Synlait when it went public in 2013, buying shares at $2.20 apiece in the float, but signalled a change of tack in the investment when it didn't acquire further stock in last year's capital-raising.
A2 and Synlait signed a supply agreement in 2012 to support the a2's plans to launch infant formula sales into China, and inked a new deal last August providing for increased scale if market demand warranted it.
The milk marketing firm said the Synlait investment provided certainty for its medium-term plans, with the supply agreement still at the heart of their relationship, and that it had no plans to lift its stake.
A2 shares were trading at $2.40 yesterday and have gained 31% over the past 12 months.
- Otago Daily Times
Chart update, page-592
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Last
$6.77 |
Change
0.190(2.89%) |
Mkt cap ! $4.894B | |||
| Open | High | Low | Value | Volume |
| $6.64 | $6.80 | $6.62 | $8.993M | 1.334M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5191 | $6.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.82 | 2584 | 2 |
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| A2M (ASX) Chart |