The listing follows a decision by Goodman Fielder to issue new shares in the company by way of an initial public offer (IPO). The IPO raised approximately A$2.12 billion. Burns Philp has retained 20% of the company.
“Goodman Fielder's listing of equity means New Zealand investors now have an opportunity to buy a stake in one of the country's most important food industry companies. The company's brands are among the best known in the country,” NZX chief executive Mark Weldon said. 38% of Goodman Fielder's revenue is generated in New Zealand.
“It is extremely positive to see a company the size of Goodman Fielder join the capital market. It is positive for the company, the market and the country.”
“There is a definite, and strong, investor appetite for quality companies in New Zealand,” Weldon said.
Mr Weldon said the company had a very positive listing and that the scaling process meant some investors hadn't been allocated as many shares as they wanted – which would create demand for the shares on market.
Shares in Goodman Fielder were quoted on the NZX Market under the security code GFF from 2pm today. The company will rank between 10th and 20th in the NZX 50 Index by free float market capitalisation.
