Australia’s Dairy Farmers is to begin meeting with farmers to discuss changing from a cooperative to a company and eventually listing on the stock market.

“It’s the first step on the path of changing from a cooperative to a company, which could then list on the stock market,” Dairy Farmers spokesman Stuart Silver told Reuters. 

Silver said Dairy Farmers plans to submit official documents to the Supreme Court in New South Wales next month, with the intention of putting the proposal to its farmer members by 30 June.

Dairy Farmers is the second-largest fresh milk producer in Australia. National Foods holds the top position, while Parmalat Australia is in third place.