It seems that kiwifruit marketer Zespri is unlikely to shift its listing to the New Zealand stock exchange this year. Last year, Zespri, now listed in the Unlisted Securities Exchange (USX), told its shareholders that strengthening the grower shareholding of the co-operative had been a focus. One option to do so was a listing on the New Zealand stock exchange (NZX).
At the time, chair Bruce Cameron said the board had discussed a range of initiatives proposed to be put in place this year and in 2024 to help improve grower share alignment and ownership. Those initiatives will be consulted on early next year. An NZX listing is a prerequisite for many of those initiatives because they occur on an ongoing basis.
However, Cameron said in an update to shareholders that the board has made good progress on understanding potential options to best strengthen the grower shareholding of Zespri.