Zespri shares up 10% on extra SunGold licencing

Trading halt lifted last Friday. 

Zespri shares have jumped 10% in response to the kiwifruit marketer's announcement that it will sell licences for another 400 hectares of the SunGold variety next year, with a further 400ha to be released in 2018, 2019 and 2020 subject to the product's performance and global demand.

The member-owned company has shares that trade on the Unlisted platform and were halted last week ahead of the announcement.

The shares had traded at $3 before the announcement but had a busy day yesterday with a turnover of 165,580 shares at a price of $3.30. The trading halt was lifted on Friday. The largest trade was for 65,580 shares, with a value of $216,414.

In August, the shares traded as high as $3.50, but were as low as $1.75 in March. Zespri shares can only be owned by growers, with voting rights dependent on production.

(BusinessDesk)

Tags: