NEW ZEALAND: Dairy Meats says will not exercise Affco rights issue
Dairy Meats NZ looks set to halve its stake in New Zealand meat processor Affco. Affco was due to launch a one-for-one rights issue on 2 September, but Dairy Meats' announcement that it will not be taking up its entitlement will delay the issue. Its stake will be diluted to between 4.7% and 5.2%, depending on how many small shareholders take up their entitlement.
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