The reply by Scott Pape, Barefoot Investor in the Herald Sun dated Sunday, June 21 to a question on investing in this IPO - caught my eye.
Here is part of what he said,
"For its entire 65-year history, Murray Goulburn has been a cooperative that's been 100 per cent owned by dairy farmers. That won't change: the units being offered (in the MG Unit Trust) are non voting shares. And for me that's the biggest problem: it's an overly complicated structure designed to look after the milk suppliers (the dairy farmers) first, and investors second. The bottom line is that I won't be buying shares at these prices."
